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Cable keeps firm near term tone and extends recovery after Tuesday’s 1% rally generated positive signal on over 50% retracement of 1.3444/1.3139 pullback and completion of bullish engulfing pattern on daily chart. Fresh extension higher on Wednesday rose above Fibo 61.8% retracement that adds to development of reversal signal, after strong bounce on Tuesday signaled […]

The post GBP/USD: Bulls Hold Grip Ahead of UK GDP Data appeared first on Action Forex.

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31/01/2025

Gold at Record High

The European Central Bank (ECB) cut the interest rates yesterday for the fifth time, and pulled the facility deposit rate to 2.75%. The euro reacted by giving a positive reaction to the expected move. But enthusiasm didn’t last beyond ECB Chief Christine Lagarde’s presser, where she reminded investors that growth risks remain ‘tilted to the […]
09/05/2024

When Will BoE Cut?

Stocks on this side of the Atlantic Ocean are better bid these days than their American peers thanks to a combination of too-lofty valuations in the US, good corporate earnings from European companies and the expectation of looser monetary policies in Europe and the UK sooner than in the US. Plus, the AI rally – […]
19/03/2025

Bank of Japan Maintains Rate, Yen Hits 150

The Japanese yen continues to lose ground against the US dollar. In the European session, USD/JPY is trading at 149.74, up 0.32% on the day. Earlier, the yen reached the symbolic 150 level for the first time in two weeks. BoJ notes concern about US trade policy There were no surprises from the Bank of […]