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GBP/USD has broken below a long-term ascending trendline, signaling potential further downside. UK budget concerns and a drop in manufacturing PMI have contributed to the Pound’s struggle. UK budget concerns and a drop in manufacturing PMI have contributed to the Pound’s struggle. Cable has struggled this week following the UK budget. Pound Sterling should have […]

The post GBP/USD Technical: Trendline Break Sets the Stage for Further Downside appeared first on Action Forex.

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14/11/2024

Crypto: Tug-of-War at New Altitude

Market Picture Cryptocurrencies continued to surge, pushing the total capitalisation of this market to a new high of $3 trillion. It was just $2.2 trillion on November 5th. In other words, over 10 days, the increase was more than 35%. Bitcoin has gained nearly 20% since the start of the week, barely slowing at the […]
21/05/2024

Australian Dollar Shrugs After RBA Minutes

The Australian dollar edged lower but recovered in the Asian session. AUD/USD is showing little movement in the European session, trading at 0.6660. RBA minutes: members discussed rate hike The minutes of the Reserve Bank of Australia’s meeting earlier this month indicated that members discussed the possibility of a rate hike before deciding to hold […]
20/02/2024

GBPAUD Wave Analysis

GBPAUD reversed from resistance level 1.9400 Likely to fall to support level 1.9200 GBPAUD currency pair recently reversed down from the resistance level 1.9400 (which has been repeatedly reversing the pair from the middle of January). The downward reversal from the resistance level 1.9400 created the 3rd consecutive candlesticks reversal pattern Bearish Engulfing. Given the […]