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GBPUSD prints new lower low, reaches long-term support trendline Technical signals remain discouraging; more sellers wait below 1.2950 GBPUSD is currently in its fourth consecutive week of losses, gradually slipping below the 1.3000 mark for the first time since August. The pair recently hit a new lower low of 1.2943, with technical indicators reflecting persisting […]

The post GBPUSD: One More Burst of Strength? appeared first on Action Forex.

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19/07/2024

Gold: Reversal or Typical Retreat?

Gold made an impressive 3% surge during the week, breaking May’s all-time highs. However, it then retreated to the downside, selling off throughout the second half of the week. What should you watch out for to see if this is a reversal? Pullbacks after making new highs have been a typical pattern for gold in […]
26/06/2024

USDJPY Flirts With 160 Level Again

USDJPY trades with weak momentum slightly below critical 160 level Overbought conditions detected; sellers wait below 158.35-159.00 BoJ intervention is possible; US core PCE inflation due on Friday at 12:30 GMT Following a constructive week, USDJPY is now hovering just below its 34-year high of 160.20, having surpassed April’s limit of 158.34 and a crucial resistance […]
26/08/2024

Gold Creates New Bullish Wave Near Record High

Gold rises above short-term SMAs Stochastics turn down MACD and RSI still have positive momentum Gold prices are rallying higher, with the prospect of reaching the record high of 2,531 again. More advances may find resistance at the next round numbers of 2,600 and 2,700. However, the technical signals are mixed. The stochastic oscillator is […]