On Mondy, the U.S. dollar continues to trade with bearish bias after the disappointing data from the labor market of the U.S. At 18:30 GMT, the closely watched Non-Farm Employment Change, which measures the number of employed people during December was released. It showed a decline to 145K from the expected 162K and weighed on the U.S. dollar. The Average Hourly Earnings for December also decreased to 0.1% from the expected 0.3% and added in the pressure of the U.S. dollar to support EUR/USD further. Economic Calendar - Eyes on the UK GDP! Economic Calendar   BTC/USD - Daily Analysis The BTC/USD slid beneath $8,000 and stayed moving towards the South direction on Friday. The crypto market turned back most of its profits. At the moment of reporting, BTC/USD is trading at $8,000, dangerously near to the 50 periods SMA weekly (currently at $7,690). The leading cryptocurrency has dissipated more than 2% of its worth in recent 24 hours and 1.2% since the inception of Friday. Previously, the BTC/USD pair has tested the downward target of 7765 on the back of a firmer U.S. dollar. On the 4 hour timeframe, the BTC/USD has faced double bottom support near 7765, which continues to stay support for Bitcoin. Support Resistance 7,807.5 8,303.99 7,495.74 8,488.72 6,999.25 8,985.21 Pivot Point 7,992.23 The BTC/USD is trading at 8065, which marks 61.8% Fibonacci retracement market. The leading crypto pair has entered the overbought zone on the smaller timeframes, which may drive a slight bearish correction in the BTC/USD until 7,950. On the higher side, Bitcoin may find resistance around 8,224 today. The EUR/USD closed at 1.11212 after placing a high of 1.11291 and a low of 1.10850. Overall the movement of EUR/USD remained bullish throughout the day. At 12:45 GMT, the French Industrial Production for November showed a growth of 0.3% against the expected 0.1% and supported the single currency Euro. At 14:00 GMT, the Italian Industrial Production for November also showed an increase of 0.1% against the forecasted 0.0% and favored Euro. Stronger than expected Industrial production from France & Italy gave strength to Euro against the U.S. dollar on Friday and moved EUR/USD prices in an upward direction. On the other hand, the EUR/USD was also supported by the weakness of greenback on Friday after the disappointing data from the labor market of the U.S. At 18:30 GMT, the closely watched Non-Farm Employment change which measures the number of employed people during December was released. It showed a decline to 145K from the expected 162K and weighed on the U.S. dollar. The Average Hourly Earnings for December also decreased to 0.1% from the expected 0.3% and added in the pressure of the U.S. dollar to support EUR/USD further. The 10-Year U.S. Treasury bond yield dropped almost 2.5% on the back of weak Labor data, and the U.S. Dollar Index also fell by 0.8% to 97.35 level. The weak U.S. dollar added in the upward movement of EUR//USD prices towards 1.1129 level. Meanwhile, German Buba President Jens Weidmann, who is also a policymaker in European Central Bank, called on the banks to come up with a cheaper and faster system for transferring money. He said that it was now necessary to fight with Facebook Inc.'s Libra and come up with a mean of money transfer against it. He also said that there was no pressing reason yet for the European Central Bank to develop its digital currency. Support Resistance 1.1094 1.1138 1.1068 1.1156 1.1023 1.12 Pivot Point 1.1112 The U.S. Dollar is likely to trade with a bearish bias over the negative and disappointing NFP data, which is underpinning the EUR/USD pair. For now, the EUR/USD is trading at 1.1130, and it's very likely to surge to 1.1156. On the lower side, the support commands at 1.1123 today. On the upper front, the EUR/USD pair can trade bullish unto 1.1165 and 1.1195. The 50 periods EMA is still suggesting bearish bias, and the RSI is holding in the overbought zone, which is signaling chances of a bearish bias. The GBP/USD closed at 1.30637 after placing a high of 1.30967 and a low of 1.30422. Overall the movement of GBP/USD remained steady throughout the day. In the nonexistence of any macroeconomic data from Britain, the pair followed the direction of the U.S. dollar on Friday and posted small gains on the back of the weakness of the U.S. dollar. The disappointing data from the U.S. Labor Department on Friday weighed on the U.S. dollar and helped GBP/USD to post some gains in the market. The GBP/USD moved towards 1.309 level amid the disappointing Non-Farm Employment change from the U.S. as 145K in December. However, the pair started to fell and lost its gains after the comments from Bank of England's member and ended its day at the same level it started with to give a steady movement for Friday. On Friday, the Bank of England Policymaker Silvana Tenreyro said that if England's economy does not show signs of growth in the coming months, then she would incline to ease monetary policy by cutting interest rates. On Thursday, the Governor of BoE, Mark Carney, also gave the same reviews in which he said that if the economic weakness seen in late 2019 persisted in 2020 as well, then that would be a case for cutting interest rates. Onn Friday, Tenreyro said that the economy was likely to show less growth than the BoE's forecast from November. The Bank of England's next decision for interest rate will be published on January 30. After the 2016 Brexit referendum, Britain's economy started to lose its momentum, and it slowed to crawl in late 2019. Some signs of pick-up came in after the victory of PM Boris Johnson in elections on December 12. Tenreyro said that if the uncertainty regarding the trade deal with European Union persisted in the market or the slow global growth continued to weigh on demand of British Pound, then she would vote for an Interest rate cut in the next meeting. These dovish comments weighed on Pound, and GBP/USD lost its early gains on Friday. Support Resistance 1.3038 1.3093 1.3013 1.3122 1.2958 1.3177 Pivot Point 1.3068 The GBP/USD is trading at 1.3012, violating the double bottom and descending triangle pattern, which can be seen on the 4-hour charts. The pair has formed a bearish engulfing candle below 1.3060 pivot level, which is likely to drive more selling trend in the pair. The GBP/USD pair can drop further until 1.2975 and 1.2905. The RSI and 50 EMA both are supporting the bearish trend, which is why we should also look to stay bearish below 1.3068 today. Besides, we also need to keep a close eye on the British GDP figures, which are due during the European session. All the best for today.

On Friday, the market participants' primary focus stays on the U.S. NFP data, which is due to come out during the U.S. session. At 18:30 GMT, the Unemployment Claims form the United States Department of Labour for the previous week showed that the jobless claims decreased to 214K from the expected 221K and supported the US dollar. The trader's focus will also be on the US Employment data for December, Nonfarm Payrolls (NFP) to be very specific. Expectedly, there will likely be no change in the US Hourly Earnings and Unemployment Rate figures of 3.1% and 3.5%, respectively. Though, NFP is likely to soften to 164K from 266K prior. Economic Calendar - Trump Eases War Tensions BTC/USD - Daily Analysis Following a high of $8,000 yesterday, the BTC/USD pair seems to trade lower in the $7000's zone. The cryptocurrency’s capacity to operate over this level is bullish, and further proves the chance that it is in the process of developing a long-term bottom that could eventually spark the following macro uptrend. This open denial drove the cryptocurrency as low as $7,777 a few hours before, just before bulls climbing up and ardently supporting this mark, which emerged in BTC rising back towards $8,000. Support Resistance 7,704.87 7,950.22 7,604.72 8,095.42 7,359.37 8,340.77 Pivot Point 7,850.07 The BTC/USD pair has already hit the bearish target of 7765 in the wake of a stronger U.S. dollar. On the 4 hour timeframe, Bitcoin was facing double bottom support at 7765, which is now likely to be violated. Below this level, the Bitcoin can take a further bearish run until 7,633 level. Below this, the next support prevails around 7,485. On the flip side, 7,875 is a crucial level for bitcoin, and it may keep the BTC/USD bearish. The EUR/USD prices were closed at 1.11051 after placing a high of 1.11203 and a low of 1.10923. Overall the movement of EUR/USD remained stagnant as it closed at the same level it was opened with. At 12:00 GMT, the German Industrial Production for the month of November showed a growth of 1.1% against the forecasted 0.9% and supported single currency Euro. However, the German Trade Balance for the month of November showed a deficit of 18.3B from expected 20.9B and weighed on single currency Euro. At 14:00 GMT, the Italian Monthly Unemployment Rate for November showed a decline to 9.7% from expected 9.8% and supported Euro. However, the unemployment rate for the month of November for the whole bloc remained flat at 7.5%. The stronger German Industrial Production and the low Unemployment rate from Italy gave support to the Euro and made EUR/US pair to move toward 1.112 level. However, the pair could not remain bullish and continued dropping after that on the back of a stronger US dollar. At 18:30 GMT, the Unemployment Claims form the United States Department of Labour for the previous week showed that the jobless claims decreased to 214K from the expected 221K and supported the US dollar. The stronger US dollar dragged the pair EUR/USD on Thursday from its early gains, and the pair closed its day at the same level it was started with at 1.1105 level. The President of the European Central Bank, Christine Lagarde, supported the bank’s active involvement in the development of central bank digital currency to support the demand for cheaper and quicker cross-border payments. Support Resistance 1.1093 1.1121 1.1079 1.1134 1.1051 1.1162 Pivot Point 1.1107 The EUR/USD pair has entered the oversold zone, and investors seem to look for a reason to initiate buying. One of the reasons can be the NFP report today, which may help us predict further trends of the EUR/USD. The pair is now holding above the strong support level of 1.1100, which is extending solid support to the EUR/USD. In the daily timeframe, the pair has closed a spinning top candle, followed by a dramatic bearish trend. Typically such kinds of patterns initiate bullish reversals. On the upper side, the EUR/USD pair can trade bullish until 1.11250 and 1.1145. Bearish support stays at 1.1066. The GBP/USD currency pair stop its declining streak and stuck in the bearish track ahead of the US Non-Farm Employment Payrolls. As of writing, the GBP/USD currency pair is currently trading at 1.3087 and consolidates in the narrow range between the 1.3086 - 1.3089. The losses came after the Bank Of England Governor Mark Carney's showed dovish attitude. Notably, the recent headlines regarding the Brexit, domestic catalysts are giving positive vibes. Moving ahead, traders will keep their eyes on the political headlines for fresh direction before the release of the US employment data. The cable pair declining streak could be attributed to the Bank Of England Caney's dovish comments while hinting almost 250 pips rate cuts in the future. Meanwhile, the policymaker also used negative words regarding the latest growth forecast and policy risks as well. Moreover, the uncertainty increased in the wake of EU’s chief Brexit negotiator Michel Barnier who gave warning to the United Kingdom regarding leaving without any deal if it sticks to the timelines of 31-December-2020. With this, the market’s risk tone stays sluggish and US ten-year treasury yields taking rounds to 1.86%, due to the UK-Canada accusations that Iran was the criminal behind the Ukrainian plane crash. Looking forward, the investors will have their eyes on the political headlines, especially for the United States and Iran tensions, which is dropping so far. On the flip side, the trader's focus will also be on the US Employment data for December, Nonfarm Payrolls (NFP) to be very specific. Expectedly, there will likely be no change in the US Hourly Earnings and Unemployment Rate figures of 3.1% and 3.5%, respectively. Though, NFP is likely to soften to 164K from 266K prior. Support Resistance 1.3013 1.3124 1.2958 1.318 1.2846 1.3291 Pivot Point 1.3069 The GBP/USD is trading at 1.3115, holding below a strong resistance level of 1.3135. The RSI and 50 EMA both are suggesting bearish bias among traders. Below 1.3120, the cable has the potential to go after 1.3050 and 1.2990 on the lower side. While the bullish breakout of 1.3135 can lead the GBP/USD prices towards 1.3189. All the best for today.

On Thursday, the U.S. dollar is trading with a bullish bias as speech from U.S. President Donald Trump. Besides, the ADP Non-Farm Employment Change for December exceeded the expectations of 160K and came in as 202K. The growth in employment data of the United States in the ending month of last year gave the impression of growing economic conditions and supported the U.S. dollar on Wednesday. Traders will be waiting for the U.S. NFP figures, which are due to come out on Friday, and today, most of the focus will remain on the technical side of the market.   Economic Calendar - Trump Eases War Tensions   BTC/USD - Daily Analysis On Thursday, the BTC/USD prices have just rushed to $7,920, producing a mysterious daily candle, indicating a possible correction resulting in the mid-$7,000s in the following days. Bitcoin has given up all its gains, which it made previously on the back of a stronger dollar. The six-day bullish momentum which drove Bitcoin prices higher from a low of $6,850 to a high of $8,450 has finally come to an end on Wednesday. Trump's speech caused a drop on the safe-haven appeal as he found not to escalate the U.S. Iran war. Consequently, the U.S. dollar is getting stronger, recovering all the losses it made on News. Due to this, the BTC/USD pair is trading lower after testing 8,400 resistance. Support Resistance 7,781.7 8,320.19 7,558.25 8,635.23 7,019.76 9,173.72 Pivot Point 8096.74 The BTC/USD pair is trading lower after testing 8,400 resistance. For now, 8,105 remains a crucial level as a leading cryptocurrency may trade bearish below this level to target 7,765. In the case of bullish crossover of 8,105, the Bitcoin can surge to 8,350 level. The EUR/USD closed at 1.11053 after placing a high of 1.11681 and a low of 1.11016. Overall the movement of the EUR/USD pair remained bearish throughout the day. At 12:00 GMT, the German Factory Orders for November were released, which showed a decline to -1.3% from the expected 0.2% and weighed on the single currency. At 12:45 GMT, the French Trade Balance for November came in as negative -5.6B against the expectations of -5.0B. The decline in Factory Orders from Germany and the deficit trade Balance from France for November weighed heavily on Euro currency and dragged down the pair EUR/USD on Wednesday. On the other hand, from the American side, at 18:15 GMT, the ADP Non-Farm Employment Change for December exceeded the expectations of 160K and came in as 202K. The growth in employment data of the United States in the ending month of last year gave the impression of growing economic conditions and supported the U.S. dollar on Wednesday. The Stronger employment change from the United States added in the downward movement of EUR/USD pair on Wednesday. The weaker Euro and stronger U.S. dollar dragged the pair EUR/USD towards the lowest point for six days at 1.11016. On Wednesday, in an interview, the ECB President Christine Lagarde raised concerns that the time period of 11 months was insufficient to conclude a trade deal with the United Kingdom. She said that Britain is set to leave E.U. on January 31, 2020, which is one less uncertainty for investors of the financial market. She added that the biggest challenge remains unclear, which is reaching a trade deal with the U.K. during the provided transition period of 11 months. Lagarde also warned about plenty of other risks ahead, which included climate change. She said that ECB would play its part in the fight against climate change and would assess the costs and benefit s of issuing a central bank digital currency. Support Resistance 1.1086 1.114 1.1067 1.1174 1.1014 1.1227 Pivot Point 1.1121 The dollar has gained its strength back as the market isn't expecting any further escalation in tensions between Iran and the U.S., particularly following Trump's speech. We may see the EUR/USD dropping towards 1.1080 level, followed by a slight correction of until 1.11350 today. Besides, the EUR/USD has violated the bullish trendline, which was supporting the EUR/USD around 1.1095. Below this, bearish bias remains pretty solid with a target of 1.1070. The GBP/USD prices closed at 1.30938 after placing a high of 1.31694 and a low of 1.30801. Overall the trend for GBP/USD remained bearish for that day. On Wednesday, British Pound erased its early gains when investors refocused their attention towards Brexit talks. U.K. Prime Minister Boris Johnson and Ursula von der Leyen, the new European Commission President, had first meeting about Brexit talks on Wednesday. According to sources, Johnson in the meeting made it clear that the U.K. would not be requesting an extension in the transition period of 11 months. Johnson told the commission leader that he wanted a Canada-style free trade deal after January 31. The European Commission leader, however, said that it would be impossible to negotiate a comprehensive trade deal with the U.K. within the provided timeframe by Johnson. She said that covering all the aspects of Brexit in 11 months was impossible. The E.U.'s chief Brexit negotiator, Micheal Barnier, said that leaving E.U. was not a simple procedure as it covers almost 600 international agreements and a new free trade agreement. She also warned that without an extension of the transition period, the U.K. should not expect from E.U. to agree on every single aspect of a new partnership. Ursula warned that tariffs and quota-free access to the single market came with conditions, and Britain would have to agree to the rules of worker's rights, and anti-dumping measures. However, Johnson has already said that he wanted to break with E.U. rules to achieve sovereignty for which Brexit supporters voted him. With Johnson reluctant to provide any extension, the chances of no-deal Brexit at the end of the year still prevails and threats of which would continue to weigh on British Pound. On the other hand, At 13:30 GMT, the Halifax House Price Index (HPI) for December from the United Kingdom showed growth in the Housing sector with 1.7% against the expected 0.6% and supported Pound. From the American side, the closely watched ADP Non-Farm Employment Change was released at 18:15 GMT from the United States and showed growth in Employment numbers in December by 202K against the expectations of 160K. The rise in the number of employed people gave strength to the U.S. dollar and appended in the downward trend of GBP/USD on Wednesday. Support Resistance 1.3061 1.3151 1.3026 1.3206 1.2936 1.3296 Pivot Point 1.3116 The GBP/USD is trading at 1.3115, holding below a strong resistance level of 1.3135. The RSI and 50 EMA both are suggesting bearish bias among traders. Below 1.3120, the cable has the potential to go after 1.3050 and 1.2990 on the lower side. While the bullish breakout of 1.3135 can lead the GBP/USD prices towards 1.3189. All the best for today.

The U.S. Iran tensions remain the main highlights of the day. Iran has ignited over a dozen rockets at two Iraqi military camps treating U.S. troops. The missiles amid the Ain al-Assad first in Anbar territory and Erbil's airport in northern Iraq in retaliation for the assassination of prime Iranian commander Qassem Soleimani by the United States. Economic Calendar - Risk-off Sentiment In-Play   BTC/USD - Daily Analysis On Wednesday, the BTC/USD soared more than $500 to settle over the pivotal $8,000 resistance versus the U.S. Dollar. A fresh 2020 high has been formed around $8,464, and the price is presently trading slightly lower in the wake of correction. There was a bullish breakout of 7,630, which was known as a major resistance on the daily timeframe of the BTC/USD. Lately, the BTC/USD has violated a series of major resistance around $7,500 and $8,000 on the daily timeframe. This price movement suggests a strong bullish bias that can lead the BTC/USD towards $9,100 or even $10K mark. Support Resistance 7,775.18 8,229.16 7,528.9 8,436.86 7,074.92 8,890.84 Pivot Point 7,982.88 Lately, the financial markets have been extremely volatile in the wake of safe-haven appeal, which is making the dollar weaker. Due to this, the BTC/USD is exhibiting dramatic buying as it reached to place high of around 8,450. On a daily timeframe, the BTC/USD has the potential to surge until the 61.8% Fibonacci level, which is likely to extend resistance around 8,605 today. The support still stays around 8,230. The bullish bias remains strong. The EUR/USD prices closed at 1.11526 after placing a high of 1.11975 and a low of 1.11335. Overall the movement of EUR/USD prices remained strongly bearish that day. At 15:00 GMT, the Annual Consumer Price Index (CPI) Flash Estimate from Eurozone came in line with the expectations of 1.3%. The Core CPI Flash Estimate of Eurozone for the year also remained the same at 1.3%. The Italian Prelim Consumer Price Index (CPI) for December also remained as expected at 0.2%. However, the Retail Sales for November from the Eurozone came in higher than expected and supported single Currency. The Retail Sales in November increased to 1.0% from forecasted 0.6%. With inflation running below ECB's target of 2% and the continued weak economic growth, Euro currency still needs support from the central bank's measures. The positive data related to Retail Sales from Eurostat indicated a stronger household demand in November. The Eurozone bond yields on Tuesday edged up from the 3-week lowest point on the fears of rising conflict between the U.S. & Iran. Demand for safe-haven assets increased in financial markets, and riskier assets like EUR/USD decreased despite increasing Eurozone bond yields. On the other hand, regarding the Spanish election on Tuesday, Spain will be led by a coalition government for the first time in 80 years. The Parliament voted for a joint administration between the Socialist party and the anti-austerity Unidas Podemos alliance. The 10-year bond yield of Spain rose2 bps towards the level of 0.41% on Tuesday on the latest political developments. Meanwhile, the better than expected ISM Non-Manufacturing PMI from the United States also added in the pressure of EUR/USD on Tuesday. The Non-Manufacturing PMI for December came in as 55.0 against the expectations of 54.5 and supported the U.S. dollar. Stronger U.S. dollar and heightened demand for safe-haven assets on Tuesday dragged down the prices of EUR/USD pair to the lowest point of 1.11335. Support Resistance 1.1127 1.1186 1.1101 1.1219 1.1041 1.1278 Pivot Point 1.116 The EUR/USD is trading in a bearish tone despite weakness in the U.S. dollar. The pair is trading at 1.1148, below a strong resistance level of 1.1160, which may drive more bearish bias until 1.1135 in the EUR/USD. Violation of 1.1135 can lead EUR/USD prices towards 1.1120. The GBP/USD closed at 1.31203 after placing a high of 1.32119 and a low of 1.30948. Overall the movement of GBP/USD remained bearish throughout the day. The members of the British Parliament returned from the Christmas break on Tuesday, and the debates on PM Johnson's E.U. withdrawal bill agreement started. During the late sessions of 2019, the bill was passed, and now it has been under reconsideration before making it a law. The Swiss National Party and the Labour Party have tried hard to amend the bill during debates, but they all were easily defeated. And it is highly expected that their requested amendments would be rejected after the voting in Parliament on Thursday due to the maximum majority of Tories. Meanwhile, the Members of the European Parliament have raised concerns about the deportation of E.U. citizens living in the U.K. at the time of Brexit. The Conservatives were highly criticized by the British watchdog and Regulatory Policy Committee (RPC) for failing to assess the full impact of PM Johnson's Brexit deal. On the other hand, the U.S. dollar was stronger on Tuesday amid the expansion in ISM Non-Manufacturing PMI. The stronger USD added to the downfall of GBP/USD prices on Tuesday. At 14:55 GMT, the Housing Equity Withdrawal for the 3rd Quarter from the United Kingdom was released, which showed a decline of -6.3B against the expectations of -7.2B and supported British Pound. On Wednesday, the U.K. Prime Minister Boris Johnson and the European Union Council President Von der Leyen will meet, and traders are looking forward to the developments they will discuss the post-Brexit trade deal. Support Resistance 1.3148 1.3163 1.314 1.3171 1.3125 1.3186 Pivot Point 1.3156 The GBP/USD is trading at 1.3115, holding below a strong resistance level of 1.3135. The RSI and 50 EMA both are suggesting bearish bias among traders. Below 1.3137, the cable has the potential to go after 1.3095 and 1.3070 on the lower side. While the bullish breakout of 1.3135 can lead the GBP/USD prices towards 1.3189. All the best for today.

The dollar has weakened over U.S. Iran tensions, which is underpinning the EUR/USD prices today. The U.S. airstrike killed top Iranian commander, the tensions between Iran & the United States escalated and caused a sudden drop in the Government bond yields across Euro bloc. On Tuesday, the market is trading with the risk-off sentiment, driving bullish bias for the safe-haven assets like gold and Japanese yen. Economic Calendar - Risk-off Sentiment In-Play During the late U.S. trading session, the BTC/USD price extended its bullish trend from $7,358 to push as high as $8,000. For the prior week, traders have been firmly following to see if BTC could reverse $7,450 from a resistance to support, and several proposed that continued move over $7,600 would open the opportunity to go for the $8,000 to $8,200 range. The 4-hour concluded over $7,600, driving the price over the 50-day EMA, which presented bulls with full confidence to push the Bitcoin to set a daily peak. Furthermore, Bitcoin examined $8,000 resistance ahead to running to the current $7,916. Support Resistance 7,864.21 7,879.7 7,855.33 7,886.31 7,839.84 7,901.8 Pivot Point 7,870.82 The BTC/USD is focusing on breaking the key resistance level of $8,000. The leading cryptocurrency employed most of December trading sideways between $7,000 and $7,500 levels. The fresh break above $7,800 appears to have recovered the buyers' attention in the digital asset. The U.S. Iran tensions continue to dominate the market as the Bitcoin surged to test the psychological resistance level of $8,000. The pair may drop towards 7800 and 7690 support levels before adding more bullish bias today. The EUR/USD closed at 1.11968 after placing a high of 1.12054 and a low of 1.11571. Overall the movement of the EUR/USD pair remained bullish throughout the day. On the data front, the German Retail Sales for November exceeded the expectations and supported Euro at 12:00 GMT. The figures showed that consumer spending in November increased to 2.1% from the forecasted 1.1%. At 1:15 GMT, the Spanish Services PMI was released for December, which also supported the Euro. The service sector was expanded in Spain to 54.9 from expected 53.9. At 1:45 GMT, the Italian Services PMI also expanded to 51.1 against the expectations of 50.9 in December. At 1:50 GMT, the French Final Service PMI also showed a growth in the service sector for December when it came in as expected 52.4. AT 1:55GMT, the German Final Services PMI was also above 52.0 of expectations to 52.9 in December. It showed the expansion of the services sector in Germany. The Final Service PMI for the whole bloc also expanded to 52.8 from expected 52.4 in December and supported Euro on Monday. At 2:30 GMT, the Sentix Investor Confidence from the Eurozone also increased to7.6 from forecasted 3.0 and supported Euro currency. At 3:00 GMT, the Producer Price Index for November from the Eurozone also increased to 0.2% against the expectations of 0.1% and gave strength to single currency Euro. The stronger than expected macroeconomic data from Europe on Monday gave support to Euro. The expansion in the Services Sector in the whole Eurozone, the increased confidence of investors, and the growth in the Producer price index gave much support to the single currency. The recession fears for Eurozone dropped after such positive data released on Monday, and the stronger Euro gave a boost to the EUR/USD pair prices to reach above 1.1200 level. However, the recent events surrounding Iran & U.S. were not settled and continue to weigh riskier assets in the market. This held the upward movement of EUR/USD on Monday. Support Resistance 1.1178 1.1187 1.1175 1.1193 1.1166 1.1202 Pivot Point 1.1184 The EUR/USD is facing stiff resistance around 1.1200 level, and below this, the pair can exhibit selling bias until 1.1175 level. In case the pair breaks below 1.1175, the next support is likely to be found around 1.1155 today. The pair may find support around 1.1150 level, and I must say it's a crucial level to stay bearish below and bullish above this level today. A bearish breakout of 1.1150 can open further room for selling until 1.1125. Whereas, the bullish breakout of 1.1175 can drive more buying until 1.1195. GBP/USD closed at 1.31682 after placing a high of 1.31741 and a low of 1.30625. Overall the movement of GBP/USD remained bullish throughout the day. At 2:30 GMT, the Final Services PMI for December from the United Kingdom showed an expansion in the services sector to 50.0 from the expected 49.1 and supported Pound. The stronger than expected Purchasing Manager's Index in December revealed that the service sector was expanded in the United Kingdom and supported British Pound. Strong Sterling gave rise to the prices of GBP/USD pair on Monday towards the level of 1.31741. On the other hand, the UK PM Boris Johnson and the Foreign Secretary Dominic Raab have shown their indirect support to the U.S. killing of Iranian General Qassem Soleimani. However, the United Kingdom has said that they remain in favor of Germany and France to try to reduce the risks of war. Elsewhere, the United Kingdom's opposition party Labor will decide the timetable for the election of its new leader. The contender for the opposition party leader named Keir Starmer has shown support to Brexit while the other contender Jess Philips suggested that she might seek to rejoin E.U. if Brexit fails. Furthermore, the U.K. Prime Minister Boris Johnson is set to meet the new European Commission President Ursula von der Leyen on Wednesday. The meeting will include the discussion on Brexit proceedings. However, the senior Tory leaders urge Boris Johnson to kick off post-Brexit trade talks with the U.S. to put pressure in E.U. Which will push Brussels to strike a deal by the end of 2020. On the American front, according to the December meeting minutes released by the Fed, the policymakers were in support of an easy monetary policy that weighed on the U.S. dollar on Monday. Weak U.S. dollar and strong British Pound helped GBP/USD to rise above 1.31700 level at the starting day of the week. Support Resistance 1.3148 1.3163 1.314 1.3171 1.3125 1.3186 Pivot Point 1.3156 Sterling has formed a bearish engulfing candle on the 4-hour timeframe, which is likely to drive bearish pressure on the GBP/USD pair. On the lower side, the crucial support level is likely to be 1.3130; as above this, the Cable can trade until 1.3205 and 1.3245. Alternatively, the bearish breakout of the 1.3135 level can lead to GBP/USD towards 1.3080 and 1.2985 support levels. All the best for today.

The dollar has weakened over U.S. Iran tensions, which is underpinning the EUR/USD prices today. The U.S. airstrike killed top Iranian commander, the tensions between Iran & the United States escalated and caused a sudden drop in the Government bond yields across Euro bloc. On Monday, the market is trading with the risk-off sentiment, driving bullish bias for the safe-haven assets like gold and Japanese yen. Economic Calendar - Risk-off Sentiment In Play During the previous few weeks, the BTC/USD has been concentrating on the narrow trading range of $7,300 - 6,800, apparently stuck in within a rock and a hard area. Certainly, the cryptocurrency has many times jumped in the mid-$6,000s, where there is little support and has been rebuffed various points in the resistance zone around the high-$7,400. On Monday, the BTC/USD surged dramatically in the wake of a weaker dollar and violated the 7,400 resistance level. The leading crypto is now testing the double top level around 7,610. Traders are also coming back to the market after the holiday session, which is resulting in increased trading volume and market price action. Support    Resistance 7,188.14     7,431.46 7,050.24    7,536.88 6,806.92    7,780.2 Pivot Point 7,293.56 Weakness in the U.S. dollar has to lead to BTC/USD prices higher towards 7,585 level. The pair is overbought, and it can take a slight bearish correction until 7,445. Below this, the next support can be seen around 7,350. On the upper side, the breakout of 7,585 can extend bullish bias until 7,720 TheEUR/USD closed at 1.11558 after placing a high of 1.11797 and a low of 1.11250. Overall the movement of the EUR/USD pair remained bearish that day. On Friday, after the U.S. airstrike killed top Iranian commander, the tensions between Iran & the United States escalated and caused a sudden drop in the Government bond yields across Euro bloc. The German 10-Year Bond Yield dropped to the 2-week lowest point of -0.248%. The German10-year yields rose to a seven-month highest level just two days ago but fell on Friday. The falling government bond yields and escalated geopolitical tensions across the world caused more demand for safe-haven and less for riskier assets like EUR/USD. Hence, the pair EUR/USD dropped below 1.113 level on Friday. The macroeconomic data related to inflation & Unemployment change from Eurozone was also not supportive of the single currency Euro on Friday. The German Prelim CPI for December exceeded 0.5% from the expectations of 0.4% and supported Euro. At 12:45 GMT, the French Prelim CPI for December also came in favor of Euro as 0.4% against the expected 0.3%. The Spanish Unemployment Change at 1:00 GMT came against Euro when it increased in December to -34.6K in comparison of forecasted -40.2K. At 1:55 GMT, The German Unemployment Change for December increased to 8K from expected 3K and weighed on Euro. The M3 Money Supply for the year at 2:00 GMT decreased to 5.6% from forecasted 5.7%. And the Annual Private Loans data from the whole bloc showed a decline to 3.5% from expected 3.6% and weighed on single currency Euro. Weaker than anticipated Inflation and Jobs data from Eurozone weighed Euro currency and boosted the downward trend of EUR/USD pair. Support Resistance 1.1153 1.1203 1.1133 1.1234 1.1082 1.1284 Pivot Point 1.1183 The EUR/USD has traded mostly in line with our previous forecast. The 38.2% Fibonacci retracement level 1.1170 continues to hold up and keep the EUR/USD pair bearish below this level today. The dollar has weakened over U.S. Iran tensions, which is underpinning the EUR/USD prices today. The pair may find support around 1.1150 level, and I must say it's a crucial level to stay bearish below and bullish above this level today. A bearish breakout of 1.1150 can open further room for selling until 1.1125. Whereas, the bullish breakout of 1.1175 can drive more buying until 1.1195. The GBP/USD closed at 1.30743 after placing a high of 1.31599 and a low of 1.30532. Overall the movement of GBP/USD remained bearish throughout the day. At 12:00 GMT, the Nationwide House Price Index (HPI) for December was increased to 0.1% from the expected 0.0% and supported Sterling. At 2:30 GMT, the Construction Purchasing Manger's Index (PMI) for December showed a decline to 44.4 from the forecasted 45.8 and weighed on Sterling. However, the M4 Money Supply for November from the United Kingdom increased to 0.8% against the expected 0.2% and supported single currency Pound. The Mortgage Approvals for November from Britain also remained flat with the expectations of 65K. The Net Lending to the individuals for November decreased to 4.5B against the expected 5.1B and weighed on Pound. The macroeconomic data from Britain was mostly not in favor of its currency Pound, where Construction activity in December declined, and the Mortgage approvals in November also decreased. The weak Sterling caused GBP/USD to move in a downward trend on Friday. On the other hand, the Brexit bill of Johnson was overwhelmingly voted by the Parliament last month but was opposed by Northern Ireland MP's. On Thursday, the Northern Ireland parties tabled amendments to the government's Brexit bill in an attempt to seek changes. On January 31, the U.K. will leave E.U., but the transition period will immediately begin, where the trading relations between the U.K. & E.U. will remain unchanged. During the transition, Northern Ireland's trading relationship with the U.K. would also remain unchanged. The transition phase will conclude on December 31, 2020, and PM Boris Johnson has said that there will be no extension in this period. The Purpose of this transition period is to negotiate a new phase of a long-term relationship between the U.K. and the E.U. The focus of negotiations will be on a trade deal, but talks will also include the broad agreement on Northern Ireland. It was also reported that the new president of the European Commission, Ursula von der Leyen will meet PM Boris Johnson on Wednesday just before three weeks of Britain's departure from E.U. on January 31. The meeting will hopefully be about to open talks on the country's post-Brexit trade deal. Support Resistance 1.3094 1.321 1.3047 1.3278 1.2932 1.3393 Pivot Point 1.3163 The GBP/USD is consolidating at 1.3085, holding below a strong resistance level of 1.3095. A bullish breakout of 1.3095 can help Sterling bulls to capture buying until 1.3135. In another case, the Cable can trade bearish below 1.3095 with immediate support around 1.3030 and 1.2985 today. All the best for today.

On Friday, the U.S. dollar bounced off fresh weakness as gloomy economic headlines from Europe and the U.K. hefted on primary opponents. Besides, the figures due later in the session are anticipated to lead to some growth in the U.S. manufacturing sector. The U.S. dollar snapped a six-session losing flare to trade around 96.747, surging slightly higher from the recent six-month low nearby 96.355. Economic Calendar - FOMC In Focus Lately, It looked like the BTC/USD bulls aren't starting 2020 off on the right foot as the BTC/USD pair fell to as low as 6,800 level on Thursday. However, Friday's Asian session proved that it was short-lived as the BTC/USD pair made a strong recovery and placed a high of around. During the past few days, BTC/USD moved in between $7,300 and $7,100, examining the $7,100 and $7,050 support levels several times. Consequently, for various investors, it was no wonder when the price fell beneath $7,100 as many retests of support exhaust this level. Support Resistance 6,859.27 7,107.31 6,759.17 7,255.25 6,511.13 7,503.29 Pivot Point 7,007.21 Bitcoin showed dramatic movement in the market as it's price surged to place a high of around 7,250 after placing a low of 6,850. The 50 periods EMA is likely to extend resistance around 7,240 now. With this kind of spike, the odds of a bullish bias become pretty strong. A bullish breakout of the resistance level of 7,250 is likely to lead the bitcoin prices towards 7,400 level. While support continues to be around 6,850. The EUR/USD closed at 1.11722 after placing a high of 1.12143 and a low of 1.11635. Overall the trend for EUR/USD remained strongly bearish that day. On macroeconomic data front at 1:15 GMT, the Spanish Manufacturing Purchasing Manager's Index (PMI) for December showed a growth towards 47.4 against the expected 46.9 and supported single currency Euro. However, at 1:45 GMT, the Italian Manufacturing PMI for December showed a decline to 46.2 from the expected 47.3 and weighed on single currency Euro. At 1:50 GMT, the French Manufacturing PMI came in a little more than expected as 50.4 from forecasted 50. At 1:55 GMT, the German Manufacturing PMI for December came in as 43.7 against the expected 43.4. Finally, at 2:00 GMT, the Final Manufacturing PMI for the whole bloc was released, which also supported the Euro because it came in more than expected for December. The actual increase in the manufacturing activity in December in Eurozone was recorded as 46.3 against the forecasted 45.9. Support Resistance 1.1153 1.1203 1.1133 1.1234 1.1082 1.1284 Pivot Point 1.1183 The EUR/USD has completed 38.2% Fibonacci retracement around 1.1170, and it's holding right below this level as it's working as resistance now. Despite being in the oversold territories, the EUR/USD is likely to exhibit further bearish bias in the EUR/USD if the pair continues to trade below 1.1185 area. On the lower side, the next support stays at 1.1155 level, which marks 50% retracement for the EUR/USD. GBP/USD closed at 1.31363 after placing a high of 1.32305 and a low of 1.31150. Overall the movement of GBP/USD remained bearish throughout the day. The Final Manufacturing PMI from the United Kingdom was released at 2:30 GMT for the month of December. The figures showed that manufacturing activities in Britain at the end of the year were declined to 47.5 from the expectations of 47.6 and weighed on British Pound. The weak Manufacturing PMI from the U.K. dragged the pair GBP/USD and broke the streak of the bullish trend of 5 days on Thursday. The downward trend of GBP/USD was also caused by the strength of the U.S. dollar that day. U.S. dollar returned to its pace after falling for six consecutive days in last week. Markets are now anticipating to examine how the trade negotiations between E.U. and U.K. will start off. Only a few more parliamentary stages are left for Brexit withdrawal bill becomes the law, and U.K. leaves E.U. on January 31. The opposition Labor Party's leader Jeremy Corbyn has demanded another delay to the Brexit process if the end of June 2020 did not secure the trade deal. He has tabled an amendment to the E.U. withdrawal Bill. According to his amendment, the transition period to secure a deal with E.U. will be extended until 2023 in the absence of any comprehensive agreement. Support Resistance 1.3094 1.321 1.3047 1.3278 1.2932 1.3393 Pivot Point 1.3163 The GBP/USD pair is dispensing bearish retracement since the cable has fallen from 1.3160 to 1.3110, which marks a 50% Fibonacci retracement level. Today's pivot point for the GBP/USD remains around 1.3160, and closing of candles below this level is suggesting further chances of a bearish trend in the market. The GBP/USD is crossing below 50 periods EMA from the upper side, which suggests the chances of a bearish reversal in the market today. Let's consider taking sell trades below 1.3160 today. All the best for today.

The trading volume still remains low, but we got technical setups that we can trade during this timeframe. The development over the US-Sino trade deal and the global growth outlook decreased the demand for the dollar. The thin volume of trades at the end of the year increased the weakness of the U.S. dollar and dragged it to its lowest level since June. Besides, UK Boris Johnson has promised to increase government spending in the next years. As the expectations of global economic growth have expanded on the back of decreased risks if Central bank raises its borrowing costs to a limited extent, the British Pound will surge further. Economic Calendar - UK Final Manufacturing PMI     The technical side of the Bitcoin hasn't changed much so far as the leading crypto pair trades around 7,238 after testing the support level of 7,150. On the downside, the next support stays at 7075, and the violation of this level can drive selling until 6,700 and 6,545. While bullish breakout of 7,450 can lead BTC towards 7,625. Price action indicates for the crypto market: some say that it is symbolic of an upward breakout to the high-$7,000s or perhaps $8,000s in the following days. Whereas, others think that recent rejection is an antecedent to a further drawdown. Support Resistance 7,173.47 7,239.39 7,131.84 7,263.68 7,065.92 7,329.6 Pivot Point 7,197.76 The Bitcoin continues to trade sideways around 7,238 after testing the support level of 7,150. It hasn't changed much this week due to New Year Holiday and thin volatility. On the lower side, the next support stays at 7075, and the violation of this level can drive selling until 6,700 and 6,545. While bullish breakout of 7,450 can lead BTC towards 7,625.   The EUR/USD was closed at 1.2171 after placing a high of 1.12392 and a low of 1.11976. Overall the movement of the EUR/USD pair remained bullish throughout the day. Leaving behind the 1.12 level, the EUR/USD pair has hit new four months high during the trading session on Tuesday. The development over the US-Sino trade deal and the global growth outlook decreased the demand for the dollar. The thin volume of trades at the end of the year increased the weakness of the U.S. dollar and dragged it to its lowest level since June. Due to bank holidays in the European Union and lack of any specific news from the Europe side, the rise in Euro was caused mainly due to the weakness of the U.S. Dollar. The U.S. Dollar remained stable throughout the year. However, at the end of the year, when Beijing and Washington announced that the phase-one deal agreement had been agreed. Thus, the greenback lost its appeal as a safe-haven asset. The reason for the fall of the greenback is not the weak U.S. economy but safe-haven liquidation. However, the single currency Euro has been supported by the bullish outlook for the Eurozone economy because of the global growth outlook after the trade truce between the U.S. & China. Traders are looking for the release of Manufacturing PMI data from whole European bloc, which will further affect the movement of EUR/USD prices. Support Resistance 1.1209 1.1218 1.1205 1.1222 1.1196 1.123 Pivot Point 1.1213 The direct currency pair EUR/USD is trading neutral around 1.1210. December 31st daily closing candle is half bullish and half bearish, exhibiting that buyers are exhausted, and bear may be entering the market. The pair may trade lower below 1.1225 to complete retracement around 1.1195 and 1.1175, which marks 23.6% and 38.2% retracement levels. The GBP/USD was closed at 1.32448 after placing a high of 1.32842 and a low of 1.31048. Overall the movement of GBP/USD remained strongly bullish throughout the day. The Sterling was one of the strongest major currencies in 2019, which rose 4% against the U.S. dollar. Although the Canadian dollar was the top-performing currency in 2019, the difference between the performance Sterling and Loonie differs by just a fraction of percent. The Brexit caused most of the price fluctuation in pair GBP/USD in 2019. When PM Boris Johnson started making progress in negotiating a deal with the E.U. in September, the traders became confident that this time Brexit would reach an end. And the currency pair started to gain and traded about a 10% higher level from the lowest point of that time. However, when Johnson threatened to leave E.U. without a deal, Sterling faced much pressure at that time of the year. The downward trend of British Pound has again raised when Johnson, after winning in the U.K. elections for the second time, said that no-deal Brexit could still happen. He made his Brexit deal as law and gave threats to E.U. that in case of no trade deal by the end of 2020, then U.K. will leave E.U. without an agreement. The pair, however, started to gain again at the end of the year on the back of the weak U.S. dollar. The pair GBP/USD rose for the 5th consecutive day on New Year's Eve. The pair GBP/USD is likely to remain on the upside if the economic growth increases in 2020. Johnson has promised to increase government spending in the next years. As the expectations of global economic growth have expanded on the back of decreased risks if Central bank raises its borrowing costs to a limited extent, the British Pound will surge further. Furthermore, the broad weakness in the U.S. dollar, Interest cuts from the world's central banks, possible trade truce between the U.S. & China, and the possibility of Fed to further cut its rates might support he global economy and Pound in 2020. Support Resistance 1.3244 1.3262 1.3235 1.3271 1.3217 1.3289 Pivot Point 1.3253 The GBP/USD pair is showing bearish retracement as the pair has dropped from 1.3280 to 1.3210, which marks a 38.2% Fibonacci retracement level. The 4-hour chart seems to close a bearish engulfing candle, which is followed by a strong bullish trend in the market. This may drive further bearish bias until 1.3205, along with resistance around 1.3250. A bearish breakout of 1.3205 can drive further bearish trend until 1.3165. All the best for today.

During the preceding trading session, the U.S. dollar remained weak across the board of currencies due to increased risk factors in the market, which came in after the Chinese officials confirmed that the U.S. & China were in close contact for signing the phase-one trade deal. The dollar index, which gauges the U.S. dollar performance against the basket of six currencies, dropped 0.6% on Friday to the level of 96.951. Here's a trading plan for the day.   Economic Calendar - Eyes on Chicago PMI The Bitcoin (BTC) has conferred intensity rather uncharacteristic to its offering over the preceding few weeks, climbing to $7,520 just an hour or two before. But since then, the price of the major cryptocurrency has departed, turning to $7,350 after bulls disappointed to break through $7,500. Analysts are currently split over what this price action indicates for the crypto market: some say that it is symbolic of an upward breakout to the high-$7,000s or perhaps $8,000s in the following days. Whereas, others think that fresh rejection is an antecedent to a further drawdown. Support Resistance 7,139.09 7,376.58 6,982.69 7,457.67 6,745.2 7,695.16 Pivot Point 7,220.18 The BTC/USD higher towards the 7,420 resistance area. This level marks a double top resistance level and is likely to keep the BTC/USD lower. On the downside, the BTC/USD may find resistance around 7,105. On the 4 hour chart, the pair has crossed below 50 EMA, which may now extend resistance near 7,230 area. On the lower side, 7,050 is likely to work as strong support for the BTC/USD. The EUR/USD prices closed at 1.11760 after placing a high of 1.11882 and a low of 1.10940. Overall the movement of EUR/USD remained strongly bullish that day. On Friday, the European Central Bank released its latest economic bulletin after its December meeting. It included the summary of ECB's latest policy decision in recent global economic conditions. In ECB's Economic Bulletin, the survey-based indicators suggested that the stabilization of global activity has started in the fourth quarter. At the start of 2019, global weakness continued on the back of the Sino-US trade war, but at the year-end, the signs of stabilization have started to emerge. The U.S. dollar remained weak across the board of currencies due to increased risk factors in the market, which came in after the Chinese officials confirmed that U.S. & China were in close contact for signing the phase-one trade deal. The dollar index, which gauges the dollar against the basket of six currencies, dropped 0.6% on Friday to the level of 96.951. Support Resistance 1.1161 1.1231 1.1133 1.1302 1.109 1.14 Pivot Point 1.1204 The EUR/USD is trading around 1.1199, just below the horizontal resistance level of 1.2115. The bullish momentum in the EUR/USD has driven the currency pair towards the overbought zone, as we can see in the RSI and MACD. The closing of candles below 1.1215 is likely to drive bearish retracement in the pair until 1.1160. Conversely, the bullish breakout of the EUR/USD pair can lead its prices towards 1.1256.   The GBP/USD closed at 1.30845 after placing a high of 1.31170 and a low of 1.29682. Overall the movement of GBP/USD pair remained bullish that day. The rise in risk sentiment of the market and the broad weakness in the U.S. dollar gave benefit to the British Pound on Friday and raised its prices to the best level after post-election rally two weeks ago. The thin trading ahead of year-end gave strength to Sterling and pushed it above $1.31 level on Friday to outperform all its rivals. The riskier assets gained traction across the market that day amid the increased confidence of traders as the US-China trade tensions are softening. Besides, the demand for extending the deadline for talks about a new trade relationship with Britain from Ursula raised Sterling on Friday. Support Resistance 1.3013 1.3138 1.2941 1.319 1.2816 1.3315 Pivot Point 1.3065 The GBP/USD pair hasn't changed much due to the lack of fundamentals in the market. The pair is trading at1.3105, just below 1.3135 resistance level. Overall, it's a double top level, which is keeping the GBP/USD in a bearish mode, while at the same time, 1.3065 is keeping it supported. Chances of bullish trend continuation remain higher today. All the best for today.

On Friday, the dollar trades near a six-month high against the JPY while the Aussie continues to surge to its highest mark since July on Friday, buoyed by rising Sino-U.S. trade tensions. The confidence around forecasts for a Phase 1 trade deal diminished the desire for safe-haven currencies such as Japanese Yen (JPY). However, with global forex markets enjoying the holiday season in the wake of Christmas and New Year, the overall trading is mostly subdued on Friday. Economic Calendar - ECB Economic Bulletin In Focus A day after Christmas brings movements in the market as the BTC/USD has violated the 7,210 support level to hit the low of 7,105. On the 4 hour chart, the pair has crossed below 50 EMA, which may now extend resistance near the 7,211 area. On the lower side, 7,050 is likely to work as strong support for the BTC/USD. A day after Christmas drove the BTC/USD higher towards the 7,420 resistance area. This level marks a double top resistance level and is likely to keep the BTC/USD lower. Support Resistance 7,193.53 7,234.09 7,177.66 7,258.78 7,137.1 7,299.34 Pivot Point 7,218.22 The BTC/USD may find resistance around 7,105. On the 4 hour chart, the pair has crossed below 50 EMA, which may now extend resistance near 7,230 area. On the lower side, 7,050 is likely to work as strong support for the BTC/USD. The EUR/USD closed at 1.10974 after placing a high of 1.11088 and a low of 1.10820. Overall the movement of the EUR/USD pair remained bullish that day. On Thursday, after the Christmas holiday, traders came back and started to invest with a relatively significant volume and raised EUR/USD pair. The Brexit MEP for the West Midlands, Rupert Lowe on Thursday said that the only thing which has supported the European economy and Euro currency was the European Central Banks' quantitative easing program. In the Q.E. program, the central bank prints and issue money into the economy to stimulate growth and job creation. ECB has bought around 2.1T euro worth of assets to boost European Union economic activity since 2015. This Friday, the ECB will publish the Economic Bulletin, and from the American side, there will only be the release of minor commodity-related figures. Ahead of year-end holidays, trading will remain choppy in financial markets. Support Resistance 1.1106 1.1143 1.1088 1.1162 1.1051 1.12 Pivot Point 1.1125 As discussed yesterday, the EUR/USD has violated the 1.1100 level and has already hit the target of 1.1120 level. Continuation of this level can extend buying until 1.1145, and below this, we can expect a slight bearish reversal in the EUR/USD. On the downside, the pair may find support around 1.1100. The 50 EMA is also supporting the bullish bias in the pair. The GBP/USD pair closed at 1.29921 after placing a high of 1.30155 and a low of 1.29595. Overall the trend for GBP/USD remained bullish that day. The GBP/USD pair remained range-bound throughout the day on Thursday before year-end holidays. After general elections in the U.K. this month, GBP has gained more than 500 pips, and now it is moving in a tight range since then. With the victory of Conservatives in U.K. elections, investors came under the realization that the U.K. might still end up with a hard Brexit if no trade deal was reached within a year. This news put some pressure on the rising prices of GBP/USD. Support Resistance 1.2955 1.3098 1.29 1.3188 1.2757 1.3331 Pivot Point 1.3044 The GBP/USD extends trading on the higher side at 1.3065, just below 1.3085 resistance level. It's the identical triple bottom level, which was holding the cable during the past week. At the moment, the GBP/USD may gain the next support near 1.2958. The leading indicators, such as the RSI and MACD, are holding in the overbought zone, suggesting chances of a bearish reversal in the market. Let's keep an eye ion 1.3020 to stay bearish below and bullish above this level. All the best for today.