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GBPUSD advances after its bounce off 200-day SMA A potential breach of 50-day SMA could improve outlook Oscillators suggest strengthening positive momentum GBPUSD had been on the rise following its deflection at the 200-day simple moving average (SMA) on August 8. After four consecutive daily green candlesticks, the pair is on track to reclaim its 50-day SMA […]

The post GBPUSD Battles With 50-day SMA appeared first on Action Forex.

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30/07/2024

GBPUSD Extends Pullback From 1-Year High

GBPUSD declines steadily from 1-year high The bears eye the 50-day SMA as next target Momentum indicators ease but remain positively tilted GBPUSD had been on the rise following its bounce off the 50-day simple moving average (SMA) in late June. Although the pair posted a fresh one-year high of 1.3043 on July 17, it has been […]
13/02/2024

GBP/USD: Limited Recovery Warns of Prolonged Sideways Mode

Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day. A double Doji (Fri/Thu) signal indecision as daily studies are mixed and keep near-term price action between 200DMA (1.2564) and falling 10DMA (1.2638). […]
26/04/2024

GBPJPY Close to a New 9-Year High

GBPJPY is in the green again today, a tad below its 9-year high The BoJ meeting failed to stop the yen’s underperformance; intervention threat lingers Momentum indicators are clearly on the GBPJPY bulls’ side GBPJPY is trading higher again today, recording its fourth consecutive green candle and preparing to test the June 24, 2015 high […]