Cable remains biased lower, but bears continue to struggle at psychological 1.30 support and unable to clearly break lower for over one month. Technical studies on daily and weekly charts show strong negative momentum, with bearish signals being reinforced by 5/200WMA death-cross and likely repeated monthly close below pivotal Fibo support at 1.3164 (38.2% of […]
The post GBP/USD Outlook: Bears Continue to Struggle at 1.30 Support but Remain in Play appeared first on Action Forex.
Daily Pivots: (S1) 1.3298; (P) 1.3332; (R1) 1.3390; More… GBP/USD retreated sharply after hitting 55 4H EMA, but stays above 1.3216 temporary low. Intraday bias remains neutral and some more consolidations could still be seen. Read more…
Daily Pivots: (S1) 0.7853; (P) 0.7888; (R1) 0.7913; More…. USD/CHF recovers today but stays below 0.7921 temporary top. Intraday bias remains neutral and more consolidations could still be seen. Further rally is still expected as Read more…
Gold (XAU/USD) is down 3.3%, breaking the key $5,000 psychological support level ahead of the FOMC The market anticipates a “hawkish hold” from the Fed, potentially delaying rate cuts to 2027, which remains a key Read more…