Daily Pivots: (S1) 198.08; (P) 198.82; (R1) 199.31; More… GBP/JPY dips notably today as consolidation from 199.79 extends. Intraday bias remains neutral first. Further rally is expected as long as 55 D EMA (now at 194.79) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D […]
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Short Term Elliott Wave View in EURGBP suggests that decline to 0.8295 on October 18, 2024 ended wave (1). Wave (2) corrective bounce is proposed complete at 0.8447 as the 1 hour chart below shows. Read more…
Markets The barrage of central bank meetings in Sweden, Norway, the Czech Republic and the UK ended with a decision in the US. The Fed delivered the expected 25 bps cut to 4.5-4.75%. The new Read more…
The Federal Reserve (Fed) delivered the second rate cut of the year yesterday. Chair Jerome Powell said that the Fed doesn’t rule ‘out or in’ a rate cut in December, that the US economy is Read more…