GBP/USD plunges on political chaos following Brexit deal, May's speech awaited

GBP/USD extends slump, trading at fresh daily lows, accumulating a whopping 250 pips' loss since Raab quit. Doubts the deal would pass through the Parliament and a no-confidence letter against PM May weigh. GBP/USD poised to test 1.2690, October low.



EUR/USD near daily highs on Chinese headlines

The EUR/USD pair is trading marginally higher for the day, lacking life of its own as the world keeps gyrating around Brexit. Nevertheless, headlines indicating that China is preparing a trade proposal for the US lifted high-yielding assets from their lows, keeping the common currency afloat.


Prime Minister May and Brexit’s one-sided approval

The approval of the Brexit treaty to secure Britain’s exit from the European Union has always been a one-party affair. 

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Top 3 Price Forecast - Bitcoin, Ethereum, Ripple: The Bitcoin totem staggers and could hit $4,420

The BTC/USD blows up its foundations and shows extreme weakness. The ETH/USD is in a weak zone and could move towards $100. The XRP/USD comes out almost unscathed and retains its rocket ticket to the moon.

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Bitcoin price watch: New 2018 lows, what’s next?

Investors and cryptocurrency enthusiasts and especially those in the Bitcoin community are asking themselves a difficult question, what’s next after the overwhelming plunge on Wednesday.  The market was diving in the sea of red waters with Bitcoin, the leading crypto breaking below the base support at $6,000. 

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Ripple's XRP Technical Analysis: XRP/USD dangerous consolidation mode

Ripple's XRP price is trading firmly in the red, down over 5% in the session on Thursday, XRP/USD price action is moving within a pennant pattern, subject to a breakout to the downside. Ripple announced another partnership, large Asian bank, CIMB Group will be utilizing Ripple's technology. 

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Ethereum price analysis: Will this reversal hold?

The bears attacked Ethereum price guns blazing on Wednesday after a period of stability in September and the first two weeks of November. Ethereum did not weather down the declines as other assets like Ripple (XRP) did.

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Bitcoin Cash BCH Technical Analysis: BCH/USD a catastrophe is round the corner

Bitcoin Cash price nursing chunky losses of some 5.7% into the second half of Thursday's session. BCH/USD testing a critical area of support, seen just below $415, this has provided support in September and October. 

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EURUSD Analysis: Still trying to figure it out [Video]

GBPUSD Analysis: No reason to get aggressively bearish just yet [Video]

USDCAD Forecast: Canadian dollar drifting ahead of U.S. retail sales

Sterling Falls Sharply As Traders Brace For A No-Deal Brexit

Yohay Elam

The EUR/USD attempted a recovery but found itself on the back foot once again

The EUR/USD hit a new high of 1.1500 but was unable to hold onto it. The failure resulted in a gradual drop to the bottom of the range. The US Mid-Term elections yielded a divided government: Democrats won the House and Republicans retained the Senate, a result that had been forecast by the polls.

Yohay Elam

EUR/USD managed to recover and recapture 1.1300 as the market mood temporarily improved. What's next? The next moves to the upside may be harder.

The Technical Confluences Indicator shows that EUR/USD faces a dense cluster of resistance lines at 1.1365. This includes the Pivot Point one-day Resistance 1, the Fibonacci 23.6% one-week, the Bollinger Band one-hour Upper, the Simple Moving Average 200-1h, and the SMA 50-4h.

The next hurdle is more potent. At 1.1385 we see the convergence of the BB one-day Middle, the Fibonacci 38.2% one-week, and the Fibonacci 23.6% one-month.

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