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EURGBP finds strong resistance at 50-day SMA Momentum oscillators hold below their mid-levels EURGBP is trading within a narrow range of 0.8420-0.8460 over the last couple of weeks, remaining capped by the flat 50-day simple moving average (SMA) around the 0.8460 resistance. Technically, the RSI indicator is pointing south marginally beneath the 50 level; however, […]

The post EURGBP Trades Within Tight Channel appeared first on Action Forex.

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17/06/2024

GBP/JPY Daily Outlook

Daily Pivots: (S1) 198.57; (P) 200.09; (R1) 201.27; More… Intraday bias in GBP/JPY remains neutral for the moment, and some consolidations could be seen below 201.59. Further rally is expected as long as 197.18 support holds. However, considering bearish divergence condition in 4H MACD, firm break of 197.18 will confirm short term topping, and turn […]
05/08/2024

EUR/JPY Daily Outlook

Daily Pivots: (S1) 159.20; (P) 160.40; (R1) 161.09; More… EUR/JPY’s decline continues today and breached 155.91 fibonacci level. There is no sign of bottoming yet and intraday bias remains on the downside. Next target is 153.15 support. On the upside, above 159.69 minor resistance will turn intraday bias neutral and bring consolidations first, before staging […]
19/09/2024

GBP/JPY Daily Outlook

Daily Pivots: (S1) 186.51; (P) 187.28; (R1) 188.74; More… GBP/JPY’s break of 188.08 minor resistance suggest that fall from 193.45 has completed at 183.70 already. Rise from there is seen as the third leg of the corrective pattern from 180.00. Intraday bias is back on the upside for 193.45 and possibly further to 61.8% retracement […]