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Key Highlights GBP/USD started a fresh decline below the 1.3120 support zone. A connecting bearish trend line is forming with resistance at 1.3070 on the 4-hour chart. EUR/USD extended losses and traded below the 1.0920 support. Bitcoin rallied above the $63,500 and $64,000 levels. GBP/USD Technical Analysis The British Pound started a fresh decline from […]

The post GBP/USD Could Recover: Is a Comeback on The Way? appeared first on Action Forex.

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06/06/2024

GER 40 Index in Positive Mood Ahead of ECB Rate Decision

German 40 index strives to exit bearish formation before a widely expected rate cut Short-term risk skewed to the upside, but confirmation signal could come above 18,672 The German 40 index started Thursday’s session on a positive note, aiming to extend its latest upturn above its 20-day simple moving average (SMA) and out of the […]
30/04/2024

GBPUSD Battles With 200-Day SMA

GBPUSD rebounds strongly from a 5-month bottom But meets strong resistance at 200-day SMA Momentum indicators improve but remain neutral-to-negative GBPUSD experienced a vast decline after posting a fresh 2024 high of 1.2892, generating a clear structure of lower highs and lower lows. Although the pair has been attempting a recovery in the past few sessions following […]
26/06/2024

Gold Prices Under Pressure as Dollar Index (DXY), US Yields Rise

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