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Cable fell further at the beginning of the week, after larger bears paused for consolidation on Friday. Current bets show 60% chance of BoE rate cut at Thursday’s policy meeting, which continues to weigh on sterling. Technical picture on daily chart weakened further after Monday’s acceleration broke below 1.2830 pivot (50% retracement of 1.2615/1.3044 / […]

The post GBP/USD Outlook: Bears Resume After a Brief Consolidation appeared first on Action Forex.

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18/07/2024

Sunset Market Commentary

Markets The ECB kept its key policy rates unchanged today in an unanimous decision. In its policy statement, the central bank repeats that it doesn’t pre-commit to a particular rate path. They follow a meeting-by-meeting and data-dependent approach to determining the appropriate level and duration of restriction. Unlike at the April meeting, there’s no clear […]
31/01/2024

EUR/USD Technical Analysis Forecast Ahead of FOMC

This week is loaded with critical economic releases, keeping markets on edge. We have FOMC rate decisions, Nonfarm Payrolls, and inflation numbers, to name a few. This comes as investors remain divided on the FED’s rate cut path for 2024. Many analysts and investors see that the robust consumer spending and declining inflation are enough […]
16/07/2024

USD/CAD Steady After Canadian CPI, US Retail Sales

The Canadian dollar is showing limited movement on Tuesday. In the North American session, USD/CAD is trading at 1.3687, up 0.03% on the day at the time of writing. Canada’s CPI lower than expected Canada followed the US and posted a better-than-expected inflation report for June. The annual inflation rate fell to 2.7% in June, […]