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Key Highlights GBP/USD started a recovery wave from the 1.2665 zone. It broke a major bearish trend line with resistance at 1.2750 on the 4-hour chart. Gold prices could again aim for a move above the $2,500 resistance. The UK Claimant count could change by 14.5K in July 2024. GBP/USD Technical Analysis The British Pound […]

The post GBP/USD Eyes Recovery: Key Hurdles In The Way appeared first on Action Forex.

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12/04/2024

Pound Slips to 4.5-Month Low, UK GDP Ticks Higher

The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2594, down 0.47%. The pound is down 1.1% this week and fell to 1.2489 earlier today, its lowest point since November 23. UK economy ekes out a 0.1% gain It wasn’t a spectacular GDP report but a gain is […]
17/05/2024

After Surpassing $30, Silver May Aim for $50

Silver climbed above $29.8, rewriting the highs from January 2021, but once again faced selling intensification from that level for the first time in four years and has pulled back to $29.40 at the time of writing. Silver does not look overheated, as it is only now entering overbought territory on the RSI on the […]
08/04/2024

Gold Unlocks Fresh All-time High Again

Gold reaches 2,353.90 above 161.8% Fibonacci extension MACD and RSI move higher in overbought regions Gold prices are experiencing a fresh higher high today around the 2,353.90 level, successfully surpassing the 161.8% Fibonacci extension level of the downward move from 2,079 to 1,810 at 2,245. The bullish rally started after the rebound off the 1,984 […]