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EURGBP reversed from resistance zone Likely to fall to support level 0.8340 EURGBP currency pair recently reversed down from the resistance zone located between the key resistance level 0.8400 (former strong support from June, July and August) intersecting 20-day moving average and the 618% Fibonacci correction of the downward impulse from September. The downward reversal […]

The post EURGBP Wave Analysis appeared first on Action Forex.

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14/10/2024

Pound Eyes UK Employment Data

The British pound is coming off a quiet week and the lack of activity has continued on Monday. Early in the North American session, GBP/USD is trading at 1.3040, down 0.14% on the day. It’s a busy week in the UK, with the release of employment, inflation and retail sales. These key reports will be […]
10/08/2024

Weekly Economic & Financial Commentary: A Wild Week in a Data Desert

Summary United States: A Wild Week in a Data Desert It was a very quiet week on the U.S. economic data front, but financial markets were anything but calm. Last week’s run of weak U.S. data, capped by a troubling rise in the unemployment rate and a slowdown in nonfarm payroll growth, helped spark a […]
07/08/2024

GBP/USD Outlook: Recovery Above Daily Cloud Likely to Be Limited

Cable started to gain traction and edged higher on Wednesday morning, after the latest drop penetrated rising daily cloud (cloud top at 1.2702) but found firm ground at 1.2682 (100DMA) where dips were repeatedly rejected. Subsequent rise may generate initial bullish signal on return and close above daily cloud, though more work at the upside […]