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EURGBP continues to trend south and hit new 3 ½ month low on Friday, in extension of steep and uninterrupted downtrend from 0.8765 (Nov 16 peak). The pair is on track to complete the second week of heavy losses, after November’s close in red marked the biggest monthly loss since May. Fresh signals that the […]

The post EUR/GBP: Steep Fall Extends Below Thick Daily Ichimoku Cloud appeared first on Action Forex.

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03/05/2024

Elliott Wave Analysis on EURJPY Expects Support Soon

Short Term Elliott Wave View on EURJPY suggests the rally from 12.7.2023 low is in progress as a 5 waves. Up from 12.7.2023 low, wave 1 ended at 163.71 and pullback in wave 2 ended at 160.21. Pair extended higher in wave 3 towards 171.58. The 60 minutes time frame below shows the rally which […]
17/07/2024

GBP/USD at 1-Year High as UK CPI Remains at 2%

The British pound continues to roll and is up for a sixth straight day. GBP/USD is trading at 1.3038 in the European session, up 0.51% on the day. The pound has sparkled in July, climbing 3% and hitting its highest level since July 2023. UK inflation unchanged UK consumer inflation remained at 2% y/y in […]
28/06/2024

When Stars Collide

This week’s inflation data was in line with Westpac’s expectations. But what matters is whether the RBA was surprised. We do not think it was, and note that despite personnel changes, the RBA’s analysis and strategy have not changed. This week’s inflation data were not a surprise to the Westpac Economics team and so did […]