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GBPUSD trims more gains after bearish channel breakout Technical signals remain negative; support at 1.2670 GBPUSD bears powered up on Tuesday with scope to fight the 200-day simple moving average (SMA) and the support trendline from the 2022 low at 1.2670, which triggered the April-July bull trend. Notably, the 50% Fibonacci retracement of this upleg […]

The post GBPUSD Drops Out of Bullish Channel appeared first on Action Forex.

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16/01/2024

Australian Employment Report in Focus as Aussie Dives

Australia to add fewer jobs than before Unemployment rate to remain unchanged Aussie plummets ahead of the release on Thursday at 00:30 GMT Data on employment continues to be relatively reliable. In most months, the increase in the labor force is bigger than the rise in unemployment. This is helping to keep the unemployment rate […]
30/07/2024

US 100 Index Stops at Uptrend Line; Positive Risks Not Faded Yet

US 100 heads up, standing beneath short-term rising trend line Stochastics point north above oversold region RSI ticks higher below 50 level The US 100 (cash) index had a strong pullback off the 18,715 support, failing to extend its dive from the all-time high of 20,775 below the long-term ascending trend line. Technically, the stochastic oscillator is […]
19/06/2024

CHF: Getting Bid Up Due to Safe Haven Status

The prior 6-month weakness of the Swiss franc against G-10 currencies has seen a short-term bullish reversal due to safe haven demand. Ongoing political uncertainty arising from the upcoming French legislative elections reinforced the ongoing CHF strength which led to three consecutive weekly losses on the EUR/CHF cross pair. A surprise dovish stance from the […]