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The improvement in Germany’s business climate stalled in May, according to data released by Ifo. The index remained at the same level of 89.3 as a month earlier. The indicator was last higher in May last year, but analysts, on average, were expecting a further increase to confirm the more positive PMI reading released last […]

The post German Business Climate Worse Than Expected; Euro/Pound Under Pressure appeared first on Action Forex.

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10/09/2024

GBP/USD Starts Pullback, UK Employment Report Next

Key Highlights GBP/USD struggled near 1.3260 and started a downside correction. It traded below a key bullish trend line with support at 1.3140 on the 4-hour chart. EUR/USD is struggling to start a fresh increase above 1.1100. The UK Claimant count could change by 95.5K in August 2024. GBP/USD Technical Analysis The British Pound faced […]
06/02/2024

GBPUSD Plummets to 2-month Low

GBPUSD tests 200-day SMA after strong sell-off Prices break trading range to the downside Outlook looks bearish in short-term GBPUSD plunged to a new almost two-month low of 1.2517 on Monday’s session, falling beneath the short-term trading range and the 200-day simple moving average (SMA).  Currently, the market is recovering some losses with the RSI […]
19/08/2024

BTCUSD Completes Death Cross

BTCUSD trades sideways in the past few sessions Sentiment deteriorates after multiple rejections at 50-day SMA Momentum indicators are skewed to the downside BTCUSD (Bitcoin) has been losing ground in August, experiencing a strong selloff on the back of a downbeat July NFP report. In contrast to stocks, Bitcoin has failed to recover notable ground as the 50-day simple […]