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Key Highlights GBP/USD started a recovery wave above 1.3350 and 1.3400. A major bearish trend line is forming with resistance near 1.3475 on the 4-hour chart. EUR/USD is struggling to clear the 1.1750 and 1.1780 resistance levels. Gold extended gains to a new record high above $3,870. GBP/USD Technical Analysis The British Pound found support […]

The post GBP/USD Faces Hurdles – Is Market Preparing For A Fresh Decline? appeared first on Action Forex.

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28/10/2024

WTI Outlook: Oil Opens With Gap Lower as Supply Fears Fade After Israel’s Attack on Iran

WTI oil opened with wide gap lower on Monday and fell to the lowest levels in nearly one month, registering a drop of around 5% at the start of the week. Israel’s attack on Iran over the weekend was a main oil driver with Iran’s oil facilities remaining intact that offset fears of energy supply […]
29/05/2024

WTI Oil: OPEC+ Likely to Keep Its Production Cut and Further Support the Price

WTI oil price rose further on Wednesday, extending advance into fourth straight day, following strong acceleration on Tuesday, which resulted in a daily gain of 2.1% and close above important barriers at $79.83/$80.00 (200DMA / psychological). Bulls cracked next pivot at $80.52 (Fibo 38.2% of $87.61/$76.13), with close above this level to validate bullish signal […]
23/05/2025

NZDJPY Wave Analysis

NZDJPY: ⬇️ Sell NZDJPY reversed from resistance zone Likely to fall to support level 84.00 NZDJPY currency pair recently reversed down from the resistance zone between the resistance level 87.30 (which has been reversing the price from February, as can be seen below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward […]