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The British pound is down for a third straight trading day on Tuesday. In the European session, GBP/USD is trading at 1.2822, down 0.36% on the day. Earlier today, the pound fell below the 1.28 line for the first time since Aug. 15. UK employment rate climbs to 4.3% The UK employment report for the […]

The post GBP/USD Slips to 3-Month Low as Unemployment Rate Jumps appeared first on Action Forex.

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22/11/2024

EUR/USD Breaks 2023 Low

Today’s PMI figures were released and came in worse than analysts’ expectations. The Flash Manufacturing PMI and Flash Services PMI for both Germany and France fell below the 50.0 threshold, indicating that Europe’s economy is slowing down. This weakened the euro further and exacerbated the situation on the EUR/USD chart, which has been in a […]
23/07/2024

Copper (HG) Double Three Elliott Wave Correction in Progress

Short Term Elliott Wave View in Copper (HG) suggests that correction from 5.20.2024 high remains in progress. The internal subdivision of the correction is unfolding as a double three Elliott Wave structure. Down from 5.20.2024 high, wave (W) ended at 4.305 and rally in wave (X) ended at 4.7015. Wave (Y) lower is in progress […]
27/11/2024

WTI Crude Oil Teeter: Could Another Drop Be Looming?

Key Highlights WTI Crude Oil prices are struggling to clear the $71.20 resistance zone. A connecting bearish trend line is forming with resistance at $70.90 on the 4-hour chart. Bitcoin corrected gains and traded below the $95,000 support. The US GDP could grow 2.8% in Q3 2024 (Preliminary). WTI Crude Oil Price Technical Analysis WTI […]