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Markets The Bank of England kept its policy rate unchanged at 5.25% in a 3-way split with two members (Mann & Haskel) preferring a 25 bps rate increase to 5.5% and one member (Dhingra) voting in favour to reduce it by 25 bps to 5%. That compares with consecutive 6-3 votes (3 in favour of […]

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18/12/2023

GBP/USD: Constructive Above Daily Tenkan-sen But Double Top Weighs

Early Monday’s action is holding within a narrow consolidation following Friday’s 0.6% pullback which left a double-top (1.2793/90). Cable remains constructive above daily Tenkan-sen (1.2647) but needs to clearly break above cracked Fibo barrier at 1.2719 (61.8% of 1.3141/1.2037) to bring bulls fully in play for fresh push towards targets at 1.2800/37 (round-figure / 200WMA). […]
26/08/2024

AUDUSD Wave Analysis

AUDUSD approached key resistance level 0.6795 Likely to rise to resistance level 0.6865 AUDUSD currency pair just approached the key resistance level 0.6795 (which stopped the previous minor correction 2 at the start of July) standing above the upper daily Bollinger Band. The subsequent price behavior near the resistance level 0.6795 will affect how this […]
18/07/2024

EURUSD Reaches the Midpoint of a Long-Term Downtrend

EURUSD rally slows down near 4-month high Gets bearish vibes, but positive trend is still alive above 1.0900 ECB to hold interest rates steady at 12:15 GMT; Will it signal a second rate cut? EURUSD took a breather after heightened expectations of a Fed rate cut lifted the pair as high as 1.0947 on Wednesday. The price […]