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Key Highlights GBP/USD is consolidating above the 1.2620 support zone. A major bearish trend line is forming with resistance at 1.2740 on the 4-hour chart. Gold prices could decline if it settles below the $2,620 support zone. The US GDP could grow 2.8% in Q3 2024. GBP/USD Technical Analysis The British Pound struggled above 1.2750 […]

The post GBP/USD Approaches Critical Test: Can Bulls Push Higher? appeared first on Action Forex.

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29/12/2023

AUDUSD Wave Analysis

AUDUSD reversed from resistance level 0.6865 Likely to fall to support level 0.6800 AUDUSD currency pair recently reversed down from the major resistance level 0.6865 (which has been reversing the pair from June). The resistance level 0.6865 was further strengthened by the nearby upper daily Bollinger Band. Given the strength of the resistance level 0.6865 […]
25/04/2024

US Q1 GDP Comes in Lower Than Expected, But Details Show a Resilient Economy 

Real GDP expanded by 1.6% quarter-over-quarter (q/q, annualized) in the first quarter of 2024 – below the consensus forecast of 2.5%. Consumer spending expanded by 2.5% – a modest deceleration from last quarter’s 3.3% gain. Service spending (+4.0%) accounted for all of last quarter’s gain, while spending on goods (-0.4%) was flat. Non-residential business investment […]
12/12/2023

Swiss Franc Shines, Turns to SNB Decision for Fuel

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