The Brexit Party announced it would step down from more constituencies won by Labours. UK PM Boris Jonson said that all Conservative candidates pledged to support his deal. GBP/USD holding ground, technically neutral-to-bullish, but unable to clear 1.2900.
Bitcoin recovery to $9,000 will not be an easy nut to crack based on the current technical picture. Trading above the key resistance between $8,514 and $8,602 will pave the way for action heading to $9,000.
Based on the early price action and the current price at 1.1059, the direction of the EUR/USD the rest of the session on Monday is likely to be determined by trader reaction to the uptrending Gann angle at 1.1069 and the uptrending Gann angle at 1.1049.
he 1.1030-25 region now becomes immediate support to defend, which if broken might turn the pair vulnerable to head back towards challenging the key 1.10 psychological mark. Some follow-through weakness below the 1.1000-1.0990 region (61.8% Fibo.) now seems to accelerate the fall further towards the 1.0955-50 region before the pair eventually drops to the 1.0900...
Unless providing a daily closing beyond the four-week-old descending resistance line, at 1.2930, prices are less likely to aim for 1.3000, which in turn highlights the weeklong rising trend line at 1.2850 as immediate support to watch.
The Technical Confluences Indicator is showing that GBP/USD faces resistance at 1.2880, which is the convergence of the Fibonacci 61.8% one-week, the Simple Moving Average 200-1h, the SMA 50-4h, the Bollinger Band 4h-Upper and more.
The 50% extension seems to be holding as support so far as this lines up with the swing low. Stronger bearish pressure could take bitcoin down to the channel bottom closer to the 61.8% Fib extension at $8,500 or the 78.6% level at $8,400. The full extension is located at $8,273.67.
The euro zone economy continued to grow at a modest pace in the July-September period as expected, data from the EU statistics office showed on Thursday, as Germany narrowly escaped a technical recession and other big economies expanded. Bearish retracement can be seen until 1.1000.
The Technical Confluences Indicator is showing that GBP/USD faces resistance at 1.2880, which is the convergence of the Fibonacci 61.8% one-week, the Simple Moving Average 200-1h, the SMA 50-4h, the Bollinger Band 4h-Upper and more.
Keep in mind, the broader outlook for EUR/USD remains tilted to the downside as the exchange rate clears the May-low (1.1107) following the Federal Reserve rate cut in July, with Euro Dollar trading to a fresh yearly-low (1.0879) in October. The recent correction in EUR/USD appears to have run its course as the advance from the yearly-low (1.0879) fails to produce...
Bitcoin is lethargic above $8,700 but $9,000 must be broken for bulls to have a clear path of sight leading to $10,000. The descending channel resistance has been tested numerously. A break above this channel could finally place Bitcoin in trajectory towards $14,000.
Bitcoin slumped on Friday last week breaking key support zones at $9,200, $9,000 and $8,800. Fortunately, the bulls gathered enough strength to for a shallow reversal on hitting a low at $8,670. Lets stay bearish below $9,000 level today.
On the upside, 1.2860 and monthly high close to 1.2980 can entertain short-term buyers ahead of challenging them with 1.3000 round-figure and October top of 1.3013.
The 61.8% retracement of the October rally comes at 1.0995, making of the 1.1000 price zone, an even stronger static support. Once below it, the next relevant support comes at 1.0940, en route to the yearly low at 1.0878. Resistances for these upcoming days are at 1.1100 and 1.1180.
The short-term range is 1.0991 to 1.1179. Its 50% level or pivot at 1.1085 is currently acting like resistance. The main range is 1.0879 to 1.1179. Its retracement zone at 1.1029 to 1.0994 is the primary downside target. Buyers could step in on a test of this zone.
That level has been in play for the past 72 hours and has seen two tests since local highs of $9,520 on Monday. The week’s behavior continues a broader trend which Cointelegraph reported on previously — Bitcoin remains range-bound between $9,000 and $9,500.
The GBPUSD pair started its free-fall after hitting the high of 1st November at 1.2972. Currently, the GBPUSD pair is testing the major support level at 1.2811. This level might give us a hint about the next potential move for the GBPUSD pair. A strong bounce from the critical support at 1.2811 might push the price north and towards the bearish trend line...
The Cable also traded in line with the forecast, holding above 1.2920 support level and below 1.2945. On Monday, the GBP/USD may find an immediate resistance at 1.2950 level and above this 1.3010 will be in focus.