Logo-color Logo-white

GBPUSD bounces off 200-day SMA and regains ground But its advance meets strong resistance at 50-day SMA Momentum indicators turn slightly positive GBPUSD has been stuck in a rangebound pattern since mid-November, unable to adopt a clear directional impetus. Despite falling towards the lower end of the range in February, the pair managed to fight back after […]

The post GBPUSD’s Rebound Stalls at 50-Day SMA appeared first on Action Forex.

previous

USD/JPY: Bulls to Remain in Play While Holding Above Broken Fibo Barrier

next

Review of RBNZ February 2024 Monetary Policy Statement

Read More

11/01/2024

Nikkei225 Needs a Breather But Hardly Done Ascending

Japan’s Nikkei225 index hit new highs since February 1990 on Thursday morning and climbed above 35000. The rise accelerated sharply this week after breaking above the 34000 level, which acted as resistance in the second half of 2023. The fundamental reason for buying was the dramatic drop in expectations that the Bank of Japan would […]
20/06/2024

USD/JPY: Probes Again Through Pivotal Fibo Barrier, Inflated by Diverging Monetary Policies

USDJPY continues to trend higher and cracks pivotal Fibo barrier at 158.22 (76.4% of 160.19/151.85) which recently capped several attacks. Sustained break here would generate fresh bullish signal for continuation of entire recovery from 151.85 (May 3 low) and open way for 159+ gains on stronger acceleration. Daily studies are in full bullish mode, though […]
20/03/2024

UK Inflation Sets Up a Marathon for BoE

UK inflation has come in slightly weaker than expected, but this does not significantly bring the rate cut date any nearer. The CPI rose by 0.6% in February after a similar fall in January. Annual inflation slowed to 3.4% from 4.0%, vs expected 3.5%. Core CPI slowed its rise to 4.5% y/y in February after […]