Logo-color Logo-white

GBPUSD finds support at uptrend line But short-term outlook remains neutral MACD and RSI are mixed GBPUSD rebounded off the 200-day simple moving average (SMA), which coincides with the 1.2595 support level and the medium-term ascending trend line. The market has still been developing within a consolidation area since November 21, despite the break to […]

The post GBPUSD Bounces Off 200-Day SMA appeared first on Action Forex.

previous

GBP/USD – Upsides Could Be Capped Near 1.2700

next

XAU/USD: Gold Retests $2200 Barrier on Renewed Safe-haven Demand

Read More

20/08/2024

The Sweet Soft-Landing Spot

The week kicked off on a positive note on expectation that when Federal Reserve (Fed) Chair Jerome Powell speaks at the Jackson Hole meeting on Friday, he will deliver a strong hint that the rate cuts will begin soon in the US. How soon ? Probably in September? By how much? Probably a reasonable 25bp? […]
07/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart is currently exhibiting a bearish overall momentum, and there’s a possibility of a bearish reaction off the 1st resistance level, leading to a potential drop towards the 1st support. On the support side, the 1st support at 103.69 is identified as an overlap support level, suggesting it could […]
21/12/2023

AUD/USD Rally Pauses, Traders Cautious As US GDP Approaches

Key Highlights AUD/USD gained traction above the 0.6700 resistance zone. A connecting bullish trend line is forming with support near 0.6745 on the 4-hour chart. EUR/USD and GBP/USD are consolidating above key support zones. The US GDP could grow 5.2% in Q3 2023. AUD/USD Technical Analysis The Aussie Dollar started a steady increase above the […]