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The UK’s Labour Party is set to win a highly anticipated landslide victory in the general election. Cable is upbeat near 1.2770 and the FTSE futures are pointing at a positive start to the session. With the general election behind us – and more political uncertainty and hopefully less scandals ahead – the Labour win […]

The post Euro and Sterling Up, USD Down Ahead of US Jobs Data appeared first on Action Forex.

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05/04/2024

Today’s Focus Will be on March Jobs Report

In focus today In the US, today’s main event will be the March Jobs Report. We expect non-farm payrolls growth to slow down to 180k and see average hourly earnings growth at +0.2% m/m SA. For more details on today’s Jobs Report, please see our latest US Labour Market Monitor – Supply-driven recovery, 4 April. […]
13/03/2024

EURGBP Starts to Take a Bullish Shape

EURGBP gets rejected near 50-day SMA after rebound Market structure develops into a bullish double bottom pattern Buyers need a rally above 0.8577 to dominate EURGBP could not surpass its 50-day simple moving average (SMA) at 0.8553 on Tuesday. However, the bullish double bottom pattern, which started to take shape around February’s base of 0.8500, might […]
20/06/2024

Pound Froze ahead of BoE Meeting: What Will the Central Bank Decide?

The GBP/USD pair is balancing around 1.2709 on Thursday, after the British pound rose in price against the US dollar for three consecutive days and finally paused. The Bank of England will convene for its regular meeting today, at which the regulator will review all the collected statistics and decide on the interest rate level. […]