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Key Highlights GBP/USD is gaining bullish momentum above the 1.2700 zone. A key rising channel is forming with resistance at 1.2785 on the 4-hour chart. Gold price found support near the $2,320 zone and might attempt a fresh increase. Bitcoin price could rally if it clears the $72,000 resistance zone. GBP/USD Technical Analysis The British […]

The post GBP/USD Gains Momentum: Currency Pair on the Rise appeared first on Action Forex.

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26/07/2024

Rotation Continues, But Europe Doesn’t Benefit

We went from ‘the Federal Reserve (Fed) could hardly cut in September’ to ‘it would be a mistake not to cut in July or September’ (source: Mohammad El Erian’s Linkedin feed) in a blink of an eye. Everything seems upside down since last week. The Big Tech stocks that have been rallying relentlessly since the […]
14/05/2024

Will UK Jobs Data Give Any Meaningful Signal?

UK set to report further softening in employment conditions Data accuracy issues persist, but wage growth could still move the pound GBPUSD needs to gain buying confidence above 1.2700 BoE leans towards a rate cut The Bank of England (BoE) left interest rates steady at a 16-year high of 5.25% last Thursday as widely expected, and although […]
19/04/2024

Cliff Notes: Seeking Clarity on Labour Market Conditions

Key insights from the week that was. In Australia, the March Labour Force Survey provided some much-needed clarity on labour market conditions after an incredibly volatile opening to the year. Following an upwardly revised gain of nearly 118,000 in February, employment fell only modestly in March, down by just 6,600. On a quarter-average basis, employment’s […]