Logo-color Logo-white

GBPUSD pares some gains after posting a 4-month peak Positive bias holds as momentum indicators are skewed to the upside GBPUSD had been forming a profound structure of higher highs following its break above a crucial descending trendline in early November. Although the pair’s rally has temporarily paused at the four-month peak of 1.2826, the impending completion […]

The post GBPUSD Halts Advance But Retains Bullish Structure appeared first on Action Forex.

previous

EUR/USD Steady as Spanish CPI Lower than Expected

next

New Zealand Dollar Under Pressure, Chinese PMIs Next

Read More

29/05/2024

GBP/JPY at Highest Level in Over 15 Years

As shown by today’s GBP/JPY chart, the exchange rate has not only surpassed the psychological level of 200 yen per pound but has also exceeded the peak of 29 April 2024. The market is now experiencing prices last seen in 2008. The main driver of the pound’s strength against the yen is the difference in […]
11/12/2023

Markets Look Forward to Tomorrow’s US November CPI

Markets Data on Friday suggested that the US economy remains resilient. For now, there is no reason for the Fed to support demand. The labour market in November added 199k jobs, up from 150k in October (35k downward revision of the previous two months). Data from the consumer survey were very strong. The unemployment rate […]
25/06/2024

Gold Reverses Back Below 50-day SMA

Gold retreats after unsuccessful break above 50-day SMA The price extends its structure of lower highs Momentum indicators turn bearish Gold had been in a steady recovery from its recent one-month low, which led to the price closing above its 50-day simple moving average (SMA) last Thursday. Despite the violation of that crucial hurdle, bullion reversed back […]