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GBP/USD is currently range-bound, consolidating within a narrow 30-pip range. US CPI and PPI data releases on Thursday and Friday could introduce some volatility. From a technical standpoint, the medium-term outlook still favors USD bulls, but a short-term bounce in GBP/USD is looking appealing. GBP/USD is in uncharted territory if i may so with the […]

The post GBP/USD Consolidates as Bulls Eye a Potential Short-Term Pullback appeared first on Action Forex.

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19/12/2024

RBNZ OCR Change of Call: Weak GDP Implies a Lower Trough in the OCR

The OCR looks set to end 2025 at 3.25% – lower than previously thought. We continue to see a 50bp cut in February but now think it will be followed up with 25bp cuts in April and May 2025. GDP printed sharply lower in Q2 and Q3 2024 – falling a cumulative 2.1%. The RBNZ […]
22/07/2024

Market Analysis: GBP/USD Trims Gains While USD/CAD Rallies

GBP/USD started a pullback from the 1.3050 zone. USD/CAD is rising and might aim for more gains above the 1.3735 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a downside correction from the 1.3050 resistance zone. There is a key bearish trend line forming with resistance at 1.2940 on the […]
15/11/2024

GBPUSD & EURUSD Outlook

Asian stocks were mixed today, influenced by weak Chinese data and uncertainty around US Federal Reserve policies. Fed Chair Jerome Powell’s cautious stance on cutting interest rates and stronger-than-expected US inflation data have reduced expectations for a December rate cut. This shift has strengthened the US Dollar and boosted Treasury yields. Traders are now closely […]