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Cable edged lower on sub-forecast Uk November earnings which adds to talks about possible rate cuts, although the BoE signals that cuts are still not on the table, with hawkish hold expected on Thursday’s policy meeting. Near-term structure remains positively aligned while the price stays above 200DMA (1.2491), but break above 10DMA (1.2608) is needed […]

The post GBP/USD: Cable Remains Constructive Above 200DMA But More Action at the Upside Needed to Confirm appeared first on Action Forex.

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23/12/2024

EUR/USD Battles Headwinds: Bulls Face Tough Terrain

Key Highlights EUR/USD started a recovery wave from the 1.0350 zone. A key bearish trend line is forming with resistance near 1.0450 on the 4-hour chart. GBP/USD is facing hurdles near the 1.2650 and 1.2720 levels. Bitcoin and Ethereum gained bearish pace and declined below key support levels. EUR/USD Technical Analysis The Euro traded as […]
06/12/2024

Is EURUSD Ready for a Bullish Reversal?

EURUSD fights for a bullish reversal above 1.0600 Upward moves may face choppy conditions EURUSD has started to show some signs of life. The pair seems to have formed an inverse head and shoulders pattern around a two-year low of 1.0330 in the four-hour chart, sparking speculation that a positive turnaround could be around the corner.   The […]
11/09/2024

Gold Technical: Poised for a Potential Bullish Breakout as US CPI Looms

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