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Cable remains at the back foot on Wednesday after Tuesday’s pullback from new multi-month high (1.3593) cracked psychological 1.3500 support. Price dipped to 1.3561 this morning, but quick bounce to 1.3500 zone points to headwinds that fresh bears face. Today’s action was so far shaped in Doji candle (indecision) with short-lived probe below initial Fibo […]

The post GBP/USD: Initial Supports Hold Pullback for Now appeared first on Action Forex.

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15/04/2025

Gold (XAU/USD) Price Update: Is Price Action Pointing Toward Fresh Highs? $3250 loading….?

Gold prices saw a retreat from recent highs due to improved market sentiment and tariff exemptions, but Goldman Sachs has increased its gold price forecast for the end of 2025. Technical analysis indicates a potential for further price movement, with a focus on the 3250 handle and support at 3195 on the H1 timeframe. Period-14 […]
05/06/2025

Bank of Canada Leaves Interest Rate at 2.75%, USD/CAD Steady

The Bank of Canada kept its benchmark interest rate steady at 2.75% in its June 2025 decision, meeting the expectations of half the market. This marks the second time rates have been held steady after cutting them by 2.25 percentage points over seven straight decisions. The governing council pointed out that the back-and-forth changes in […]
19/03/2024

AUD: Markets Prepare for RBA Rates Statement.

The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to […]