GBPUSD finds strong support in 1.2480 region But upside momentum struggles to take off GBPUSD has managed to hold above the 1.2500 mark this week following last week’s post-Fed tumble that pulled the pair to the lowest since May, hitting 1.2474. The slide reinforced the medium-term downtrend line as a strong resistance wall, but now […]

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Despite the Federal Reserve’s hawkish stance and the upcoming inauguration of Donald Trump, who has frequently discussed the possibility of new trade tariffs, EUR/USD and GBP/USD managed to find medium-term support last week. Both pairs are now attempting to recover toward recent highs. GBP/USD Last week, GBP/USD broke below the November low at 1.2480. However, […]

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It’s never too late to believe in Santa. Investors on Monday were shrugging off the bad news of past week – especially the one that suggested that the Federal Reserve (Fed) would cut its rates only two times in 2025 due to a too resilient US economy. Yesterday’s data that showed that the US durable […]

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The British pound has steadied on Friday, after sliding 1.6% in the past two days. In the European session, GBP/USD is trading at 1.2510, down 0.10% on the day at the time of writing. Retail sales point to weak Christmas spending UK retail sales posted a small gain of 0.2% m/m in November. This was […]

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Markets Front end US yields returned a few bps of the sharp Fed-induced gains yesterday but the long end extended its march higher. The 10-30-yr bucket added between 4.8 and 5.9 bps. Economic data, while second tier, again in most cases underscored the country’s economic resilience. European swap rates gapped higher in a first response […]

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EURGBP reversed from support zone Likely to rise to resistance level 0.8300 EURGBP currency pair recently reversed up from the support zone located between the key support level 0.8225 (which stopped the previous minor impulse wave i) and the lower daily Bollinger Band. The upward reversal from this from the support zone is likely to […]

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At today’s monetary policy meeting the BoE kept the Bank Rate unchanged at 4.75%, which was widely expected. The BoE delivered a dovish vote split but continues to emphasise a gradual approach to reducing the restrictiveness of monetary policy. We think this supports our base case of the next cut coming in February and a […]

The post Bank of England Review – BoE to Lag Peers in 2025; We Stay Positive GBP appeared first on Action Forex.

Markets Yesterday’s hawkish FOMC cut still resonated today. The front end of the curve outperformed slightly after US money markets even outhawked the Fed, looking to only 1 instead 2 rate cuts next year. The US 2-yr yield returns 4.5 bps of yesterday’s 15 bps gain. Long-end US bond yields remain upwardly oriented with the […]

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Both Sterling and Japanese yen are among the weakest-performing currencies today, following their respective central banks meetings. BoE left rates unchanged at 4.75%, but the surprise came from a dovish shift in the MPC, with three members voting for a cut. While BoE reiterated that a “gradual approach” to easing remains appropriate, rising concerns over […]

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GBPUSD shows some recovery after three-week low Technical signals reflect persisting selling interest BoE rate decision next in focus at 12:00 GMT GBPUSD is trying to heal its wounds after taking a hit from the Fed’s hawkish rate cut, which squeezed the price to a three-week low of 1.2560 and back below the 20-day simple […]

The post Will GBPUSD Make a Comeback After Post-Fed Tumble? appeared first on Action Forex.

Key Highlights GBP/USD is consolidating above the 1.2620 support zone. A major bearish trend line is forming with resistance at 1.2740 on the 4-hour chart. Gold prices could decline if it settles below the $2,620 support zone. The US GDP could grow 2.8% in Q3 2024. GBP/USD Technical Analysis The British Pound struggled above 1.2750 […]

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EURGBP retreats after hitting resistance at 0.8325 Broader downtrend remains intact, but momentum weakens Break below 0.8225 could confirm trend continuation Rebound above 0.8450 may signal bullish trend reversal EURGBP traded lower this week, after hitting resistance near the key territory of 0.8325. Overall, the pair is trading below all three of the plotted moving […]

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British pound is showing little movement on Wednesday. Early in the North American session, GBP/USD is trading at 1.2679, down 0.07% on the day. UK inflation climbs to 2.6% Inflation in the UK climbed to 2.6% in November, its highest level since March. The rise was driven by higher costs for petrol and food as […]

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Markets Retail sales for November were solid on face value though the details offered a more balanced picture. That was enough to cap the intraday rise in US yields. Net daily changes varied in a tight range between -1 bps and +0.7 bps in an otherwise uneventful session. German rates eased up to 1.7 bps […]

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Canada joined the global political gloom. The sudden resignation of the finance minister on Monday started raising questions about Trudeau’s leadership as politicians there try to find ways to deal with economic slowdown topped by Trump’s tariff threats. Happily for the Bank of Canada (BoC), inflation dropped below the 2% target for the second time […]

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EURGBP reversed from resistance level 0.8300 Likely to fall to support level 0.8225 EURGBP currency pair recently reversed down from the key resistance level 0.8300 (former strong support from October) intersecting with the 61.8% Fibonacci correction of the downward impulse from November. The downward reversal from the resistance level 0.8300 continues the active short-term impulse […]

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Markets Relative market calm this morning was already disturbed sooner than expected by the publication of the UK labour market data. The unemployment rate remained unchanged at 4.3% and November payrolls declined a bigger than expected 35k. However, it was wage growth data catching the eye just two days before the final BoE policy meeting […]

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The British pound is showing little movement on Tuesday, after jumping 0.57% a day earlier. In the European session, GBP/USD is trading at 1.2698, up 0.13% on the day. UK wage growth higher than expected UK wage growth excluding bonuses climbed 5.2% y/y in the three months to October, up from an upwardly revised 4.4% […]

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Hello, fellow traders. In this technical article, we’ll take a quick look at the Elliott Wave charts for the EURGBP forex pair, published in the members’ area of the website. As our members know, EURGBP is showing incomplete bearish sequences, suggesting further decline. The pair recently gave us a bounce in a 3-wave pattern, with […]

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Sterling remains resilient, as supported by UK employment data indicating that wages remain robust. This development aligns with improved conditions in the UK’s services sector, as seen in yesterday’s PMI release, and suggests that underlying price pressures have not diminished despite growing pessimism tied to the Autumn Budget’s uncertainty. Markets maintain near-zero expectations for a […]

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