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Key Highlights GBP/USD faced rejection near 1.2700 and declined heavily. A major bearish trend line is forming with resistance at 1.2670 on the 4-hour chart. EUR/USD is also trading in a bearish zone below 1.0700. The US Gross Domestic Product could grow by 1.3% in Q1 2024. GBP/USD Technical Analysis The British Pound failed to […]

The post GBP/USD Faces Downside Risk: What Traders Should Watch appeared first on Action Forex.

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04/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently has a bullish overall momentum, suggesting that the US Dollar is exhibiting strength. In the short term, there’s potential for a bullish bounce off the 1st support level, with an aim to move towards the 1st resistance. The 1st support at 101.77 is categorized as a pullback […]
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NZD/USD Stems Slide, Inflation Next

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