Cable eases in early Friday, following strong rebound in past two days which lost traction at the first strong obstacle at Fibo 38.2% of 1.3147/1.1933 descend, denting initial signal of reversal. Sterling was boosted by BOE’s rate hike by 25 basis points to 1.25% (the fifth rate increase since December) and hawkish shift in central […]
The post GBP/USD Outlook: Cable Remains Volatile and Looks for Clearer Direction Signals appeared first on Action Forex.
AUD/USD’s late breach of 0.7221 last week suggests the recent up trend is resuming. Initial bias is mildly on the upside this week. Next target is 61.8% projection of 0.6420 to 0.7187 from 0.6832 at Read more…
USD/CAD’s fall from 1.3965 continued last week after brief recovery. Initial bias stays on the downside this week for retesting 1.3480 low. Decisive break there will resume whole down trend from 1.4791. For now, risk Read more…
GBP/JPY’s steep decline last week indicates medium term topping at 216.58, on bearish divergence condition in D MACD. But as a temporary low was formed at 210.43, initial bias is turned neutral this week first. Read more…