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GBPUSD bulls step in after six-month low near 1.2600 Price near oversold area, but bullish area is above 1.3000 GBPUSD returned to gains after a six-day decline squeezed it to a six-month low of 1.2595. The pair rebounded near an important trendline from October 2023, and indicators like the RSI and stochastic oscillator suggest the […]

The post GBPUSD Gains Traction Near Familiar Support Area appeared first on Action Forex.

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25/06/2024

Sunset Market Commentary

Markets US and EMU (interest rate) markets today are holding tight ranges with trading mostly technical in nature. If anything markets still err to rather dovish bias, with yields on both sides of the Atlantic hold with reach of recent lows. There were no data in EMU. In the US, the Philly Fed non-manufacturing index […]
06/09/2024

Cliff Notes: Consumers on a Tightrope

Key insights from the week that was. In Australia, Q2 GDP printed broadly as expected at 0.2%qtr (1.0%yr). The themes of recent quarters were once again on display. The consumer remained weak, a 0.2% decline in Q2 leaving aggregate consumption just 0.5% higher than a year ago at June, and 2.0%yr lower on a per […]
30/08/2024

Crypto Fails to Bounce Off the Bottom

Market Picture The cryptocurrency market failed to move significantly from the previous day’s levels, losing 0.5% to $2.07 trillion. Crypto followed the stock market but was noticeably weaker. Smooth growth during the day was wiped out by a late sell-off, taking capitalisation back to the local lows of recent days. Sentiment in the crypto market […]