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Cable keeps form tone on Monday and hit new yearly high, trading just ticks under psychological 1.30 barrier. The pair advanced strongly in past two weeks and bulls may start to lose traction on facing headwinds from 1.30 resistance, as daily studies are overbought, and 14-d momentum indicator is turning south at very high levels […]

The post GBP/USD Outlook: Cable Holding Near 1.3000 Barrier Ahead of Powell’s Speech appeared first on Action Forex.

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18/03/2024

EURUSD Trades Sideways After Sharp DFrop

EURUSD rotates lower after its advance gets rejected Trades flat in past few sessions within the Ichimoku cloud Momentum indicators weaken but remain positive  EURUSD had been in a steady recovery from its 2024 bottom of 1.0693, advancing to as high as 1.0980 on March 8. However, the pair’s rebound was rejected after a temporary jump […]
04/06/2024

GBPUSD Surges to Fresh 2-Month High

GBPUSD advances to its highest level since March 13 But the advance starts to look overstretched Momentum indicators approach overbought conditions GBPUSD has been in a steady recovery following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). On Tuesday, the pair posted a […]
05/03/2024

Gold: Not Yet Overheated

Gold is primed for a substantial move, second only to cryptocurrencies in amplitude but lacking their enduring strength. At the end of last week, we saw a swift technical completion of a bullish pattern. Sometimes, gold avoids volatility for weeks, but at certain moments, strong multi-day trends are born, and the movement becomes almost one-sided, […]