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 GBPUSD reversed from support zone Likely to rise to resistance level 1.3200 GBPUSD currency pair recently reversed up from the support zone located between the pivotal support level 1.3030 (former monthly high from July), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from August. The upward reversal from this support […]

The post GBPUSD Wave Analysis appeared first on Action Forex.

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30/11/2023

GBP/USD: Bulls Loosen Grip Ahead of Key US Data

Cable eases from new three-month high in European trading on Thursday, as daily Doji candle on Wednesday signaled indecision and overbought daily studies prompted a partial profit-taking. Failure to register a daily close above 1.2719 Fibo barrier (61.8% of 1.3141/1.2037) and subsequent weakness add to initial signals of bull trap and increases risk of pullback. […]
13/12/2024

ECB Review: A Dovish 25’er

The ECB decided to cut its three policy rates by 25bp, in line with market expectations. The most important decision taken today, though, was to remove the pledge to keep monetary policy restrictive. The ECB now simply guides that it will use the three-tiered reaction function inputs as key metrics (inflation outlook, underlying inflation and […]
17/09/2024

News of the Week (September 16— September 20): GBPUSD in Focus

GBPUSD poised for a breakout—traders should stay alert! The GBPUSD pair, commonly known as “cable” among traders, reflects the exchange rate between the British pound and the US dollar. Economic conditions heavily influence the pair in both the UK and the US. The Pound usually depends on UK interest rate decisions, inflation data, and overall […]