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 GBPUSD rests near the 20-period SMA RSI and MACD suggest bearish wave GBPUSD is falling after a bullish spike earlier today, testing the 20-period simple moving average (SMA) in the 4-hour chart. According to technical oscillators, the RSI is still standing below its 50 neutral mark, losing some pace, and the MACD oscillator has yet […]

The post GBPUSD Retreats After Bullish Spike appeared first on Action Forex.

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24/05/2024

Canadian Dollar Eyes Retail Sales

The Canadian dollar is unchanged on Friday. USD/CAD is trading at 1.3726 in the European session at the time of writing at the time. Canada releases retail sales later, which may trigger some volatility in the North American session. The US will release durable goods and consumer confidence data. Canada’s retail sales expected to remain […]
28/03/2024

BTCUSD Advances Towards All-Time Highs

BTCUSD pauses pullback and rotates higher Conquers 70,000 but encounters strong resistance Momentum indicators are tilted to the upside BTCUSD (Bitcoin) had been undergoing a strong pullback from its all-time highs, dropping to as low as 60,760 last week. However, the price quickly recovered significant ground, surpassing the 70,000 psychological mark and to trade within breathing distance […]
29/05/2024

GBP/JPY Hits New Multi-Year High

The GBPJPY cross continues to trend higher and establishing above 200 mark (Monday’s close above this level was the first since Aug 2008). Bulls cracked barrier at 200.50 (Apr 29 spike high), with sustained break here to open way for further acceleration. Sterling remains supported by strong divergence between the interest rates of BoE and […]