Fresh leg lower extends into third straight day, with increasing downside risk seen after break of pivotal supports at 1.2170/22 (trendline support / Oct 13 former higher low). Close below 1.2122 to confirm signal and expose targets and key near-term supports at 1.2037/00 Oct 4 new multi-month low / psychological). Daily chart studies are bearish, […]
The post GBP/USD: Break of Pivotal Supports Risks Further Weakness appeared first on Action Forex.
Daily Pivots: (S1) 157.35; (P) 157.63; (R1) 158.18; More… USD/JPY fell sharply after reject below 55 4H EMA (now at 158.06). The decline from 160.71 high is resuming and intraday bias is back on the Read more…
The market narrative has flipped again—and this time the reversal is dramatic. Just days after investors were positioning for a dangerous escalation in the Strait of Hormuz, traders are suddenly rushing back into risk assets Read more…
Key takeaways Risk-on rally driven by easing geopolitics: Cooling US–Iran tensions and lower oil prices have reduced risk premiums, lifting global equities to record highs—led by the S&P 500 and Nasdaq 100. AI-led earnings momentum Read more…