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EURGBP pivots higher at the bottom of a range Technical signals not bullish yet Eyes on the 0.8540 resistance zone EURGBP switched to recovery mode after almost reaching August’s one-year low of 0.8491 and the bottom of the 2023 range area. While the area looks to be an ideal place for an upside reversal, the […]

The post EURGBP Reaches Lower Limit of Range appeared first on Action Forex.

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16/01/2024

Calling a Spade, a Spade

I sense that the first quarter of this year will be marked by the realization that it’s too early for the central banks to cut the interest rates unless something really bad – like another bank crisis, or a real estate crisis, or another debt crisis hits the fan. Because March – where market prices […]
14/03/2024

AUDUSD Waits for Direction After Bullish Break

AUDUSD squeezed between key levels Traders indecisive ahead of US retail sales AUDUSD regained positive momentum and climbed above its exponential moving averages (EMAs) after breaking out of its 2024 bearich channel. But the 0.6620 region, which was a tough barrier in January, dented the upside forces following the flash spike to 0.6666. The technical […]
10/09/2024

GBPUSD on a Slippery Slope

GBPUSD hovers within critical zone Stochastics and RSI lose momentum GBPUSD has lost its positive momentum after the pullback on the almost two-and-a-half-year high of 1.3265, trading within the restrictive support area of 1.3045-1.3085, which encapsulates the 23.6% Fibonacci retracement level of the upward wave from 1.2300 to 1.3265. In the short term, the market […]