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Since our last publication, the price actions of the GBP/USD have rallied and hit the lower limit of the first medium-term resistance zone of 1.3400/3505 (printed an intraday high of 1.3434 on 26 September). A flip of BoE’s less dovish stance to “outright” dovish Since the Bank of England (BoE) first interest rate cut of 25 […]

The post GBP/USD Technical: Potential Bullish Reversal after 4-Week Slide as US CPI Looms appeared first on Action Forex.

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02/12/2024

European Doom and Gloom

December doesn’t arrive with chocolate and flowers to Europe. First, Stellantis CEO resigns on weaker sales and tumbling profits. Second, VW workers are expected to walk out as early as today, because their labour leaders couldn’t reach an agreement on how to reduce costs to prevent factory closures. Sadly for VW, the worker walkouts may […]
05/11/2024

WTI Wave Analysis

WTI reversed from long-term support level 66.75 Likely to rise to resistance level 75.00 WTI crude oil recently reversed up from the long-term support level 66.75 (which has been reversing the price from the end of 2021), standing near the lower weekly Bollinger Band. The upward reversal from the support level 66.75 continues the weekly […]
28/05/2024

EUR/CHF Technical: Potential Bullish Impulsive Moves Resume

The potential upcoming interest cut on 6 June from the ECB is likely to have been fully priced in by the markets. The forward guidance by ECB officials on the timing of subsequent rate cuts is murky and the consensus forecasts for the current Eurozone core inflation deceleration trend may have plateaued in May. These […]