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Cable’s drop to a new low last week occurred in only three waves from 1.3044, suggesting it’s likely part of wave “b” in a complex correction. Therefore, we are looking for a potential flat formation here in wave B, with resistance possibly at the 1.3044 to 1.31 area. We think there is a chance for […]

The post Cable Moving into Resistance Ahead of BoE appeared first on Action Forex.

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XAU/USD Analysis: Gold Price Chart Displays Bearish Signals

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30/01/2024

Could BoE Maintain Its Hawkish Stance?

The BoE meets on Thursday but low expectations for significant announcements Quarterly projections could support market expectations for rate cuts Pound would benefit against the US dollar from a hawkish BoE meeting First rate-setting meeting for 2024 The Bank of England holds its first gathering for 2024 on Thursday at 12:00 GMT, a day after […]
25/03/2024

Gold Pulls Back from All-Time High

Gold moves horizontally within 2,145-2,195 MACD and RSI lose steam Gold prices have been moving lower over the last couple of days after the bullish spike towards the all-time high of 2,222.68 that was posted in the preceding week. The market has been developing within a narrow range of 2,145 to 2,195 since March 7 […]
17/09/2024

Could BoE Surprise With a Rate Cut on Thursday?

BoE meeting concludes on Thursday, the day after the Fed Economists assign an almost zero chance of a rate cut Wednesday’s CPI and the Fed rate cut could lead to a surprise BoE move Pound to benefit from an uneventful meeting BoE will announce its rate decision on Thursday The Bank of England is joining […]