Elliott Wave View: GBPUSD is Approaching Support Zone

The British pound is slightly lower on Thursday. In the European session, GBP/USD is trading at 1.2766, down 0.16%. BoE expected to hold rates The markets will shift focus from the Federal Reserve, which maintained rates on Wednesday, to the Bank of England, which is holding its rate meeting later today. The BoE is widely […]

Key insights from the week that was. It was a relatively quiet week in Australia, with the June Labour Force Survey the only market sensitive date release. The main surprise in the report was labour supply’s strength, evinced by the participation rate printing its second-highest read for the cycle at 66.9%. The level of employment […]

DXY: The DXY (US Dollar Index) chart currently shows a bearish overall momentum, indicating a downward trend in the US dollar. Price could potentially continue this bearish movement towards the 1st support level. The 1st support at 102.46 is categorized as a swing low support, and it has historical significance as a level where buying […]