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The GBP/USD pair advanced to 1.3509 on Thursday. The primary catalyst for traders was the latest UK Producer Price Index (PPI) data. UK producer inflation accelerated to a two-year high, reaching 1.9% year-on-year (y/y) in June. This follows a previous report showing that consumer price inflation (CPI) rose to 3.8% y/y in July, an 18-month […]

The post Sterling Demonstrating Stability, Buoyed by Shifting Rate Expectations Surrounding BoE appeared first on Action Forex.

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15/11/2024

US Retail Sales and Industrial Production to Conclude the Week

In focus today From the US, October retail sales and industrial production data will provide markets with the latest hard evidence of the health of the US consumer and manufacturing sectors. We expect that with still positive employment and solid wage gains, retail sales should remain on a steady growth path over the coming months. […]
16/01/2025

EURGBP Wave Analysis

EURGBP reversed from multi-month resistance level 0.8445 Likely to fall to support level 0.8380 EURGBP currency pair recently reversed down from the strong multi-month resistance level 0.8445, which has been steadily reversing the price from the start of September, as can be seen below. The resistance level 0.8445 was further strengthened by the upper daily […]
03/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits a bullish overall momentum, suggesting a strengthening of the US Dollar. Price could potentially experience a bullish bounce off the 1st support level and move towards the 1st resistance level. The 1st support at 101.77 is identified as a pullback support. This level is significant because […]