The U.S. dollar managed to remain positive, although the House of Representatives voted to impeach Trump. This strength of the U.S. dollar was backed by the rise in U.S. Treasury bond yields on Friday. The downside movement escalated after the release of the U.S. economic docket as the consumer sentiment from the University of Michigan was raised a little from expectations and supported the U.S. dollar. Today, the traders are likely to keep their focus on Canadian GDP and U.S. Durable Goods Orders to drive further movements in the market. Let's brace for it. Economic Calendar - Brace for U.S. Durable Goods Orders! The BTC/USD was facing resistance around the 7,245 level. On the four hourly charts, the pair had formed series if indecision candles, which signaled neutral bias among traders. As expected, the bullish breakout of 7,245 was likely to lead BTC/USD towards 7,430, and that's precisely how the market traded during the weekend. On the four hourly charts, the pair has formed a Doji pattern, which is signaling indecision among traders and may divert bullish bias into bearish as investors may look for doing profit takings. The bearish bias remains strong today. Support Resistance 7,444.07 7,540.41 7,405.79 7,598.47 7,309.45 7,694.81 Pivot Point 7,502.13 On Monday, the BTC/USD opens higher to trade near the triple top resistance area of around 7,646. Below this, the pair can drop further until 7400 and 7265 levels. Whereas, the bullish breakout of 6646 levels can extend buying until 7775. The EUR/USD Prices closed at 1.10751 after placing a high of 1.11246 and a low of 1.10662. Overall the movement of EUR/USD remained bearish throughout the day. At 12:00 GMT, the German Gfk Consumer Climate for December was dropped to 9.6 from expected 9.8 and weighed on Euro. At 12:45 GMT, the French Consumer Spending for November was released, which was also dropped to 0.1% from expected 0.2% and weighed on single currency Euro. However, at 14:00 GMT, the Current Account Balance from Bank of England showed a rise in October to 32.4B from expected 23.6B and supported Euro. The Consumer Confidence from the eurozone for December dropped to -8 from the expectations of -7 and weighed on Euro. Weaker than expected consumer confidence from Germany and consumer sentiment of the whole bloc gave pressure on single currency Euro and dragged the pair EUR/USD at the ending day of the week. The downside movement escalated after the release of the U.S. economic docket as the consumer sentiment from the University of Michigan was raised a little from expectations and supported the U.S. dollar. U.S. dollar managed to remain positive although the House of Representatives voted Trump be impeached. This strength of the U.S. dollar was backed by the rise in U.S. Treasury bond yields on Friday. The strong U.S. dollar weighed EUR/USD further and dragged its prices to the weekly low level on Friday at 1.10662. Support Resistance 1.1106 1.1143 1.1088 1.1162 1.1051 1.12 Pivot Point 1.1125 The EUR/USD has violated the 1.1100 support level on the 4-hour chart, and now the same level is likely to work as a resistance for the EUR/USD. The 50 and 100 periods of EMA are expected to extend resistance around the 1.1090 area. Below this, the pair can stay bearish until 1.1044 level. The GBP/USD pair closed at 1.30006 after placing a high of 1.30792 and a low of 1.29779. Overall the trend of GBP/USD pair remained bearish throughout the day. At 14:30 GMT, the Current Account for the third quarter from the United Kingdom was released, which showed a drop to -15.9B from expected -15.7B. The Gross Domestic Product (GDP) for the quarter showed a rise to 0.4% against the expected 0.3% and supported British Pound. The Public Sector Net Borrowing for November was dropped to 4.9B against the expectations of 5.2B and supported British Pound. The Revised Business Investment for the quarter remained flat at 0.0%. On the economic front, most data came in favor of British Pound and gave it strong against the U.S. dollar, which rose the GBP/USD prices to 1.30792 level on Friday. On Brexit front, the PM Johnson's deal of Brexit was passed in the U.K. Parliament on Friday. It was widely expected as Johnson holds a vast majority in the new Parliament, and now nothing can stop the U.K. to leave the European Union on January 31. The focus of Brexit investors has shifted to the upcoming negotiations on the future relationship. Investors have also been concerned about Johnson's intentions to write Brexit into law so that the transition period cannot be extended. Markets have been already mainly priced on Brexit elections, and that was the reason on which Friday's vote by Parliament on Johnson's deal was ignored and failed to move GBP/USD. After the release of economic data from the American side, the U.S. dollar gained some strength as the Personal Income and Consumer Sentiment showed growth. GBP/USD in the late session on Friday started to drop on the back of U.S. dollar strength gained after the rise in U.S. Treasury bond yield. Support Resistance 1.2955 1.3098 1.29 1.3188 1.2757 1.3331 Pivot Point 1.3044 The GBP/USD continues to trade bearish below 1.3085 resistance level. It's the same triple bottom level, which was supporting the cable during the previous week. For now, the GBP/USD may find the next support around 1.2958. All the best for today.

On Thursday, the U.S. dollar, it remained firm against other counter currencies on Wednesday amid the attention on U.S. Congress. White House lawmakers will vote for the impeachment of U.S. President Donald Trump. Democrats have enough numbers to pass the impeachment without the need for Republican votes. Today, the traders are likely to keep their focus on the BOE interest rate decision, although BOE isn't expected to change rate, yet it will be worthy to see the MPC voting decision. Let's brace for it. Economic Calendar - Final GDP & Parliamentary Votes In Focus The BTC/USD is showing dramatic volatility as the pair slipped to place a low around 6,385 level, but reversed soon to recover losses and put a high around 7,420. At the moment, the BTC/USD is facing resistance around the 7,245 level. Bitcoin, for example, is consolidating around $6,660 in the track of a 0.68% bullish correction on the day. The buyers crave to understand the price climbing the levels over $7,000. Nevertheless, the technical picture persists gray. On the four hourly charts, the pair has formed a Doji pattern, which is signaling indecision among traders and may divert bullish bias into bearish as investors may look for doing profit takings. The bearish bias remains strong today. Support Resistance 7,059.28 7,238.58 6,963.46 7,322.06 6,784.16 7,501.36 Pivot Point 7,142.76 The Bitcoin hasn't moved much on Thursday, as it continued to trade within a narrow trading range of 7180 - 7030. Yesterday, the BTC/USD showed dramatic volatility as the pair slipped to place a low around 6,385 level, but reversed soon to recover losses and put a high around 7,420. Today on Friday, the BTC/USD is facing resistance around 7,245 level. On the four hourly charts, the pair has formed series if indecision candles, which are signaling neutral bias among traders. A bullish breakout of 7,245 can lead BTC/USD towards 7,430. A bearish breakout of 7,030 can drive further selling until 6,790. The EUR/USD closed at 1.11204 after placing a high of 1.11442 and a low of 1.11072. Overall the pair EUR/USD remained bullish throughout the day. The 10-year bond yield of Germany rose to six-month high on Thursday amid the focus of the market, turning towards the session's central bank meetings, in particular, Sweden Central Bank. The Riksbank of Sweden on Thursday announced that it had abandoned the negative rate policy for the first time in almost five years. The executive board of Riksbank increased the repo rate by 25 basis points from -0.25% to 0.0%. The new rate would be applied from January 8, 2020. Only two of the six members of the executive board voted for a delay in the rate hike. Board has said that it aims to maintain the repo rate at 0% in the coming years also. This move has made the Riksbank a first central bank in the world to have adopted negative interest rates and then dispensed with them. Germany's benchmark 10-year bond yield surged to -0.23%, which is closest to a six-month high of -0.22%. Besides the rising German bond yield and Sweden rate hike, another factor involving in the upward trend of EUR/USD pair on Thursday was the weaker than expected U.S. macroeconomic data. The Existing Home Sales, C.B. Leading Index, and the Quarterly Current Account Balance from the United States were declined and weighed on the U.S. dollar and helped in rising EUR/USD prices. The increased number of jobless claims last week from the United States also put pressure on the U.S. dollar and helped the EUR/USD to gain strength in the market. Support Resistance 1.1106 1.1143 1.1088 1.1162 1.1051 1.12 Pivot Point 1.1125 The EUR/USD seems to face a hard time breaking the 1.1160 resistance level due to a lack of trading volume in the market. The EUR/USD is likely to show choppy trading within a broad trading range of 1.1100 - 1.1160 today. Consider selling below 1.1160 and buying above 1.1100. GBP/USD closed at 1.30090 after placing a high of 1.31323 and a low of 1.29896. Overall the movement of GBP/USD pair remained bearish that day. The GBP/USD dropped for the 4th consecutive day on Thursday amid the Brexit uncertainties and its fears, which could lead towards another rate cut, as said by Bank of England. At 14:30 GMT, the Retail Sales from the United Kingdom for November were declined to -0.6% from expected 0.3% and weighed on British Pound. However, the Confederation of British Industry (CBI) Realized Sales surged to 0 from expected -2 in December and supported British Pound at 16:00 GMT. On Thursday, Bank of England held its interest rates at 0.75% but also warned that Brexit uncertainties and fears of global growth could still cause the cuts. The BoE reduced its forecast for growth in the fourth quarter to 0.1%, which was previously expected to increase by 0.2%. This decline in growth expectations came in because of prevailing Brexit uncertainties. The minutes of the Bank of England's previous meeting revealed that the Monetary Policy Committee voted by 7- 2 to keep interest rates unchanged. Only two members were against holding the rates and called for a cut to 0.5%. The members opposing unchanged rates this meeting said that a rate deduction was needed in given weaker than expected growth of the economy where inflation was at 1.5%, and the employment growth was slow. On the other hand, the majority of the committee believed that growth would surge above the potential next spring, expecting that the Brexit deal would be passed by then. According to BoE, if growth is recovered as forecasted, then a rate hike will be needed. On Thursday, GBP/USD fell to 1.2989 level after the rising Brexit uncertainty and weaker than expected U.S. macroeconomic data. More jobless claims and less existing Home Sales weighed on the U.S. dollar. Support Resistance 1.2955 1.3098 1.29 1.3188 1.2757 1.3331 Pivot Point 1.3044 Weaker than expected retail sales figures from the UK drove the further bearish trend in the GBP/USD. Consequently, Cable has violated its support level of 1.3060, so now the same level is likely to work as a resistance for the GBP/USD. On the lower side, the GBP/USD can fell further until the next support level of around 1.2940. All the best for today.

On Thursday, the U.S. dollar, it remained strong against other counter currencies on Wednesday amid the attention on U.S. Congress. White House lawmakers will vote for the impeachment of U.S. President Donald Trump. Democrats have enough numbers to pass the impeachment without the need for Republican votes. Today, the traders are likely to keep their focus on the BOE interest rate decision, although BOE isn't expected to change rate, yet it will be worthy to see the MPC voting decision. Let's brace for it. Economic Calendar - BOE Monetary Policy In Highlights!   The cryptomarket is improving slightly following a sell-off in the previous couple of days. The consolidation across the last weekend finished in losses on Monday, which continued to Tuesday. Bitcoin placed new low for December concludes at $6,500. Bitcoin, for example, is consolidating around $6,660 in the track of a 0.68% bullish correction on the day. The buyers crave to understand the price climbing the levels over $7,000. Nevertheless, the technical picture persists gray. Watch out the new technical levels below. Support Resistance 6,639.03 7,420.23 6,146.99 7,709.39 5,365.79 8,490.59 Pivot Point 6,928.19 The BTC/USD is showing dramatic volatility as the pair slipped to place a low around 6,385 level, but reversed soon to recover losses and put a high around 7,420. At the moment, the BTC/USD is facing resistance around the 7,245 level. On the four hourly charts, the pair has formed a Doji pattern, which is signaling indecision among traders and may divert bullish bias into bearish as investors may look for doing profit takings. The bearish bias remains strong today. The EUR/USD closed at 1.11127 after placing a high of 1.11541 and a low of 1.11102. Overall the movement for the EUR/USD pair remained bearish that day. At 12:00 GMT, the German Producer Price Index (PPI) for November showed a decline to 0.0% from the expectations of 0.1% and weighed on single currency Euro. At 14:00 GMT, the German Ifo Business Climate for December showed a growth of 96.3 from the expected 95.6 and supported single currency Euro. At 15:00 GMT, the Annual Consumer Price Index (CPI) remained flat with the expectations at 1.0% for the whole bloc. The Final Core Consumer Price Index (CPI) for the year also remained unchanged from previous and expected 1.3%. On Wednesday, the President of European Central bank Christine Lagarde and the Greek Prime Minister Kyriakos Mitsotakis had their first one-to-one meeting. In this meeting, ECB's President hailed Greece's economic reform progress. Lagarde said that the commitment of Greece towards its economic reforms was reflected in the multitude of legislation adopted and the positive post-surveillance report by Greece's creditors. Mitsotakis said that Greece's aim to reduce primary surplus targets would start in the first half of 2020. Both also talked about the execution of the Hercules project designed to reduce the size of non-performing loans incumbering Greek banks and to lift the restrictions the banks have from exposure to Greek bonds. Meanwhile, the increased trade tensions between the European Union and the United States hurt EUR as well. The U.S. Trade Representative Lighthizer on Tuesday said that "we can't get global U.S. trade deficit down without reducing the trade deficit with Europe. We have a basic trade problem with Europe; we have to find ways to sell more goods to the European Union." On the other hand, the ongoing technical correction gave strength to the greenback on Wednesday and further added in the pressure on EUR/USD pair. The U.S. Dollar index rose 0.27% on Wednesday and advanced to its highest level in the week at 97.45. Support Resistance 1.1102 1.1134 1.109 1.1154 1.1058 1.1187 Pivot Point 1.1122 The EUR/USD seems to face a hard time breaking the 1.1160 resistance level due to a lack of trading volume in the market. The EUR/USD is likely to show choppy trading within a broad trading range of 1.1100 - 1.1160 today. Consider selling below 1.1160 and buying above 1.1100. The GBP/USD closed at 1.30767 after placing a high of 1.31341 and a low of 1.30594. Overall the trend for pair GBP/USD remained bearish that day. At 14:30 GMT, the Consumer Price Index (CPI) from the United Kingdom was published, which came in as 1.5% and exceeded the expectations of 1.4% to support British Pound on Wednesday. However, the Producer Price Index (PPI) Input came in -0.3% weaker than expected 0.0% and weighed on British Pound. The Core Consumer Price Index from the United Kingdom remained flat with expectations of 1.7%. However, the Housing Price Index (HPI) from Britain dropped to 0.7% from expected 1.5% and weighed on British Pound. The Producer Price Index (PPI) Output was also dropped to -0.2% against the expectations of 0.1% and put pressure on Sterling. Finally, the Retail Price Index (RPI) from the United Kingdom showed growth to 2.2% from forecasted 2.0% and supported single currency Pound. Most of the data came against British Pound on Wednesday and dragged GBP/USD prices to its week fresh low point at 1.30594. On the other hand, the Bank of England will announce its monetary policy decisions on Thursday, and the market is expecting no change. However, still, it would remain under the focus of the attention of traders on Thursday to further decide the movement of GBP. Regarding the U.S. dollar, it remained strong against other counter currencies on Wednesday amid the attention on U.S. Congress. White House lawmakers will vote for the impeachment of U.S. President Donald Trump. Democrats have enough numbers to pass the impeachment without the need for Republican votes. Support Resistance 1.3049 1.3118 1.3019 1.3159 1.295 1.3229 Pivot Point 1.3089 The GBP/USD pair hasn't changed much lately as investors seem to stay out of the market ahead of Bank of England's monetary policy decision. The GBP/USD is likely to follow previously mentioned technical levels. It's facing horizontal support around 1.3065, where the closing of candles above this level can drive buying in the GBP/USD. A bearish breakout of this level can open further room for selling until 1.2975. While failure to break below 1.3065 can lead the GBP/USD prices higher towards 1.3220. All the best for today.

On Wednesday, the market is all about the UK and Canadian inflation reports. Besides, the Eurozone Final CPI y/y will also play to drive market volatility. On Tuesday, in order to help the efforts of the European Central Bank in boosting inflation and job creation, the European Commission called on eurozone government to use fiscal policy and to invest in their economies. EU executive told the governments should start the bank deposit insurance scheme and proposed a pan-EU unemployment reinsurance scheme. Brace for the news today. Economic Calendar - UK Inflation In Focus A day before, the BTC/USD fell sharply below the $7,040 support and sank to $6,800. As fresh as Nov. 22 and Nov. 27, $6,800 worked as support, so several traders had previously identified the price as the point where Bitcoin would arrive if the price drew back. The BTC/USD has violated the triple bottom support level of 7,120. Closing of candles below this level is suggesting chances of further bearish bias, which can lead the leading cryptocurrency towards 6,850. On the higher side, the BTC/USD may face resistance around 7,115. The RSI and MACD are in a selling zone, suggesting chances of a bearish breakout. Support Resistance 7,201.3 7,304.03 7,146.6 7,352.06 7,043.87 7,454.79 Pivot Point 7,249.33 The BTC/USD has violated the descending triangle pattern, which was supporting the pair around 6,865. The leading crypto pair is now gaining support around 6,865, along with a resistance level of 7,000. The RSI and MACD are in the selling zone, and the recent bearish Harami candle is suggesting strong bearish bias among investors. The bearish breakout of 6,865 can drive more selling until 6,685. The EUR/USD prices closed at 1.11487 after placing a high of 1.11745 and a low of 1.11291. Overall the movement of EUR/USD remained bullish that day. On the data front, at 14:04 GMT, the Italian Trade Balance from Europe was published for October, which showed growth to 8.06B from the expected 2.82B and supported single currency Euro. At 15:00 GMT, the Trade Balance for the whole area of the eurozone was published. The figure also came in favor of Euro currency as 24.5B against the expectations of 19.7B. The jump in a trade surplus of Eurozone in October raised the demand for Euro against its counter currency US dollar, and hence EUR/USD surged on Tuesday. On the other hand, to help the efforts of the European Central Bank in boosting inflation and job creation, the European Commission called on eurozone government to use fiscal policy and to invest in their economies. EU executive told the governments should start the bank deposit insurance scheme and proposed a pan-EU unemployment reinsurance scheme. According to the EU Commission, the ECB has maintained an accommodative monetary policy to increase inflation towards its target while supporting growth and job creation. The commission suggested that countries should only increase their spending under EU budget rules, which has limited government borrowing. It was pointed mainly to Germany & Netherland, which have a large budget surplus and low public debts. Commission also pointed out that Italy should focus on bringing public debts down, which are second-highest in Europe. The reason to bring the obligations down was given by commission as it was relatively high to its economy, and borrowing more to stimulate growth was not ideal. The Vice President of EU Commission Valdis Dombrovskis said that “I invite countries with fiscal space to further boost investment and those with a high level of debt to bring it down.” The Commission is expecting a 1.2% growth in the upcoming two years against the 1.1% growth in the current year. The EUR/USD moved in bullish trend on Tuesday amid stronger Euro and relative weaker US dollar. Support Resistance 1.1131 1.1137 1.1127 1.1139 1.1121 1.1145 Pivot Point 1.1133 The EUR/USD seems to face a hard time breaking the 1.1160 resistance level due to a lack of trading volume in the market. The EUR/USD is likely to show choppy trading within a wide trading range of 1.1100 - 1.1160 today. Consider selling below 1.1160 and buying above 1.1100. The GBP/USD closed at 1.31291 after placing a high of 1.33359 and a low of 1.30991. Overall the pair GBP/USD moved in bearish trend throughout the day. On Data front, the Average Earnings Index for October was released at 14:30 GMT, which showed a decline in average earnings of 3 months by 3.2% against the expectations of 3.4% and weighed on Sterling. The Jobless Claims from the United Kingdom in November increased to 28.8K, while were expected as 21.2K. More than expected, unemployment change also weighed on Pound on Tuesday. However, the British Unemployment Rate in October declined to 3.8% from expected 3.9% and supported Sterling. At 16:00 GMT, the CBI Industrial Order Expectations came in as unfavorable -28 against the expectations of -25 and weighed on Pound. Weaker than expected macroeconomic data put Pound under pressure on Tuesday, and hence GBP/USD started to fell. On the other hand, the newly re-elected Prime Minister of UK Boris Johnson has laid out plans to fulfill his campaign promise of getting Brexit done in less than a week after victory in elections. On Tuesday, the reports from PM’s office came that UK Parliament would hold its first vote on Johnson’s Brexit Deal as early as the upcoming Friday. The deadline for leaving the EU was given as 31st January 2020 by PM Johnson in his campaign, and holding votes in parliament on Friday would be the first step toward it. The chances for winning votes for his Brexit deal in Parliament have increased now as he holds an 80-seat majority. On Tuesday, PM Johnson also gave signals that he would keep another promise of not extending the Brexit transition period past 2020. He indicated that he would make his Brexit deal into law to eliminate the possibility of extending the transition period past 2020, which raised the bars that past that time, no-deal Brexit could be possible. It was not the first time that Johnson has threatened to leave the EU without a deal. However, the backdrop has changed this time because he has the majority now, and he is capable of following through. The British Pound on this news dropped immediately in financial markets, and hence GBP/USD pair fell to 1.30 level on Tuesday. Support Resistance 1.3267 1.3441 1.32 1.3548 1.3025 1.3722 Pivot Point 1.3374 The GBP/USD is facing horizontal support around 1.3065, whereas the closing of candles above this level can drive buying in the GBP/USD. A bearish breakout of this level can open further room for selling until 1.2975. While failure to break below 1.3065 can lead the GBP/USD prices higher towards 1.3220. All the best for today.

The European Commission will post the October trade balance (20 billion euros surplus expected). The U.K. Office for National Statistics will report a jobless rate for the three months to October (3.9% expected). Later today, official data on November housing starts (increasing to 1,344,000 units expected), and building permits (falling to 1,418,000 anticipated units) will be reported. Industrial production is likely to rise by 0.8% in November. European equities remained in positive territory, with the Stoxx Europe 600 Index ending 1.4% higher at a four-year high. Germany's DAX increased by 0.9%, France's CAC climbed 1.2%, and the U.K.'s FTSE 100 jumped 2.3%. Economic Calendar - PMI Figures in the Cards! The BTC/USD has violated the triple bottom support level of 7,120. Closing of candles below this level is suggesting chances of further bearish bias, which can lead the leading cryptocurrency towards 6,850. On the higher side, the BTC/USD may face resistance around 7,115. The RSI and MACD are in a selling zone, suggesting chances of a bearish breakout. In that case, the bearish breakout can expose the BTC/USD towards 6,850 and 6,720. The BTC/USD price performed as anticipated over the preceding week as 8% was stripped off its price of $7,571.80 between December 8 and December 14. BTC/USD - Daily Technical Levels Support Resistance 7,201.3 7,304.03 7,146.6 7,352.06 7,043.87 7,454.79 Pivot Point 7,249.33 BTC/USD – Daily Forecast The BTC/USD has violated the descending triangle pattern, which was supporting the pair around 6,865. The leading crypto pair is now gaining support around 6,865, along with a resistance level of 7,000. The RSI and MACD are in the selling zone, and the recent bearish Harami candle is suggesting strong bearish bias among investors. The bearish breakout of 6,865 can drive more selling until 6,685. The EUR/USD prices closed at 1.11434 after placing a high of 1.11580 and a low of 1.11226. Overall the pair moved in bullish trend throughout the day. On the data front, at 13:15 GMT, the French Flash Services PMI showed a growth in the month of December to 52.4 against the expectations of 52.1 and supported Euro. However, the French Flash Manufacturing PMI for December was declined to 50.3 in contrast to expected 51.5 and weighed on Euro. At 13:30 GMT, the German Flash Manufacturing PMI for December also showed a decline in the manufacturing activity to 43.4 from expected 44.6 and weighed on Euro. The Closely watched German Flash Services PMI showed a growth of 52.0 for December in comparison to November's 51.7 and supported Euro. At 14:00 GMT, the Manufacturing PMI for the whole Eurozone was published, which also declined to 45.9 from expected 47.3 and weighed on single currency Euro. However, the Flash Services PMI from Eurozone came in favor of the single currency as 52.4 against the expectations of 52.0. From data published by Eurozone and its biggest economies on Monday, it can be seen that the manufacturing activities have been declining in the month of December, and the services industry has been grown. The services sector showed growth in its activities in comparison to the manufacturing industry for the current month and supported the single currency Euro. The ING economist Bert Colijn said that "the continued manufacturing contraction throughout Q4 indicates that recession concerns while moderating somewhat due to better geopolitical news, can still not be discarded for now." EUR/USD - Daily Technical Levels Support Resistance 1.1093 1.1167 1.1065 1.1214 1.0991 1.1288 Pivot Point 1.1139 EUR/USD – Daily Forecast The EUR/USD has filled the gap that is visible on the 4-hour timeframe. The pair has now trading bullish above an upward trendline, which is supporting the EUR/USD above 1.1135. Continuation of a bullish bias above 1.1125 can keep EUR/USD bullish until 1.1160 and 1.1185. The EUR/USD's immediate support prevails around 1.1095 today. The British pound retreated 0.6% to $1.3269. The Markit U.K. Manufacturing PMI dropped to 47.4 in December (49.2 expected) from 48.9 in November, and Services PMI was down to 49.0 (49.5 expected) from 49.3. Meanwhile, the U.K.'s jobless rate for the three months to October will be released later today (3.9% expected). The pound slipped for another day due to disappointing economic figures by lingering optimism following the Conservatives' election victory. Sterling rallied against most Group-of-10 rivals despite U.K. factories posting their most vulnerable performance in 7 years. The currency pair soared as much as 0.7% following Chief Secretary to the Treasury Rishi Sunak announced the government intends to place legislation ere Parliament prior to Christmas to ensure that the Brexit goes ahead next month. GBP/USD - Daily Technical Levels Support Resistance 1.3267 1.3441 1.32 1.3548 1.3025 1.3722 Pivot Point 1.3374 GBP/USD – Daily Forecast The GBP/USD has plunged dramatically, falling below the pivot level of 1.3374. On the lower side, the GBP/USD has made a strong bearish movement to trade around 1.3190. On the lower side, the GBP/USD may find the next support around 1.3116. On the 4-hour chart, the GBP/USD has formed three black crows, which are representing chances of further bearish, bearish bias in the GBP/USD pair. On Tuesday, we should consider taking a sell trade below 1.3260. All the best for today.

On Monday, the forex market continues to trade risk-on sentiment in the wake of U.K. elections and phase one trade deal between the U.S. and China. This seems to price in the U.K. election findings, which was the victory of Boris Johnson. Boris has promised the withdrawal of the United Kingdom from the Eurozone by the end of January in case of his success. In total, Conservatives secured 365 seats & Labour secured 203 seats in Thursday's British elections. Now that he has won the Prime Minister seat again for the next five years. On the news side, the market is fully loaded with Eurozone's manufacturing and services PMI figures. We may have strong movement in the EUR/USD pairs today. At the same time, the U.K. economy is also releasing manufacturing and services PMI data, which is expected to be positive. Economic Calendar - PMI Figures in the Cards! The BTC/USD was facing triple bottom support around 7080, along with resistance around 50 periods EMA at 7,248. The triple bottom support has recently been violated. The RSI and MACD are in a selling zone, suggesting chances of a bearish breakout. In that case, the bearish breakout can expose the BTC/USD towards 6,850 and 6,720. The BTC/USD price performed as anticipated over the preceding week as 8% was stripped off its price of $7,571.80 between December 8 and December 14. BTC/USD - Daily Technical Levels Support Resistance 7,201.3 7,304.03 7,146.6 7,352.06 7,043.87 7,454.79 Pivot Point 7,249.33 BTC/USD – Daily Forecast The BTC/USD seems to have violated the triple bottom support level of 7,120. Closing of candles below this level is suggesting chances of further bearish bias, which can lead the leading cryptocurrency towards 6,850. On the higher side, the BTC/USD may face resistance around 7,115. On a bit more top side, the 50 periods EMA is likely to extend resistance around 7,200. The bearish bias remains strong today. The EUR/USD prices closed at 1.11173 after placing a high of 1.11993 and a low of 1.11032. Overall the trend for the EUR/USD pair remained bearish that day. On Friday, the German 10-Year bond yield hit a six-month high at -0.215% on the back of the US-China trade deal and Johnson's win in U.K. elections. The progress in resolving two key geopolitical risks gave strength to the Euro on Friday. The uncertainty in these matters has been dragging the global economy from an extended period, and some clarity on Friday released that pressure from all currencies. The Euro jumped to its highest level since August at 1.11993 on Friday as the traders priced in the U.K. election findings, which was the victory of Boris Johnson. Boris has promised the withdrawal of the United Kingdom from the Eurozone by the end of January in case of his success. Now that he has won the Prime Minister seat again for the next five years, he will make sure to fulfill his promises, which will be not good for the Eurozone and its currency Euro. Furthermore, on the economic data front, at 12:00 GMT, the German Wholesale Price Index (WPI) for November was published, which came in as unfavorable -0.1% against the expectations of 0.5% and weighed on single currency Euro on Friday. The weaker than expected macroeconomic data and victory of the Conservative Party in British general elections on Friday dragged the EUR/USD pair from its highest level. The pair lost all of its gains and fell to 1.11032 level to form a bearish candle. EUR/USD - Daily Technical Levels Support Resistance 1.1093 1.1167 1.1065 1.1214 1.0991 1.1288 Pivot Point 1.1139 EUR/USD – Daily Forecast The EUR/USD has filled the gap, which is exhibited on the 4-hour timeframe. The pair has now trading bullish above an upward trendline, which is supporting the EUR/USD above 1.1135. Continuation of a bullish bias above 1.1125 can keep EUR/USD bullish until 1.1160 and 1.1185. The EUR/USD's immediate support prevails around 1.1095 today. The GBP/USD pair closed at 1.33338 after placing a high of 1.35143 and a low of 1.31603. Overall the trend for GBP/USD pair remained bullish that day. The pound jumped to its highest level since May 2018 at 1.35 level on Friday amid the sweeping victory of Prime Minister Boris Johnson's Conservative Party in British general elections. A 2% increase in the prices of Sterling was seen on Friday after the hopes of Britain to leave European Union by January 31 raised. The country voted for PM Johnson in the hope that the political chaos which has been dragging the economy for almost three years would come to an end after leaving Europe. PM Boris Johnson was re-elected on Friday with a majority of 80 seats in the parliament. He would now have an opportunity to get enough votes on the withdrawal agreement bill to pass it in a relatively short period before January 31 to assure Brexit on that deadline. The opposition Labour Party had the worst defeat since 1935 in the latest British elections against Conservative Party, and its leader Jeremy has said that he would step down early next year. In total, Conservatives secured 365 seats & Labour secured 203 seats in Thursday's British elections. The increased hopes for the end of Brexit drama early next year gave support to the GBP/USD pair and raised its bars across the board amid its highly sensitive nature towards Brexit news. On the other hand, at 14:30 GMT, the U.K. Consumer Inflation expectations for November dropped to 3.1% in comparison to the previous month's 3.3%. At 19:30 GMT, the British Conference Board Leading index from the United Kingdom for October came in as -0.4% against September's -0.3%. GBP/USD - Daily Technical Levels Support Resistance 1.3267 1.3441 1.32 1.3548 1.3025 1.3722 Pivot Point 1.3374 GBP/USD – Daily Forecast The GBP/USD exhibited dramatic buying over U.K. parliamentary elections. The GBP/USD has completed 38.2% Fibonacci retracement around 1.3350, and it's bouncing off above this level. The Sterling my find next resistance around 1.3495. The Gap on the 4-hour chart is still unfilled, and this may keep sellers motivated until 61.8% Fibo level of 1.3220. The 50 periods EMA suggests bullish bias in the GBP/USD pair. All the best for today.

The U.S. dollar continues to keep the bearish bias over dovish monetary policy. Despite the rates being on hold, the U.S. dollar did not gain traction in the market and continue to decline. The decision of the Federal Reserve to not change its rates or policy next year came in line with the market expectations and failed to give strength to the U.S. dollar. When asked whether a hike in interest rates would be seen next year, Chairman Jerome Powell answered that a persistent increase in inflation would be required to withdraw the stimulus Fed added this year. Economic Calendar - U.S. Retail Sales on Cards! The BTC/USD has dropped below the trading range of 7400 - 7300, to trade around 7,200 level. The leading crypto pair was trading within a symmetric triangle pattern, which was supporting it around 7330. At the moment, the same support level is working as a resistance, keeping the BTC/USD prices below 7,330. The BTC/USD traded in a bearish tone, shedding 1.80% at the time of writing, as the bulls try to break below $7500. The BTC/USD tested high at $7,660 and a low at $7,370, with most of the price action taking a point in the other half of the day. BTC/USD - Daily Technical Levels Support Resistance 7,112.52 7,258.74 7,035.64 7,328.08 6,889.42 7,474.3 Pivot Point 7,181.86 BTC/USD – Daily Forecast The BTC/USD hasn't changed much yesterday as investors focus mostly stayed on the British Elections and the ECB interest rate decisions. The BTC/USD is still facing triple bottom support around 7080, along with resistance around 50 periods EMA at 7,248. The RSI and MACD are in a selling zone, suggesting chances of a bearish breakout. In that case, the bearish breakout can expose the BTC/USD towards 6,850 and 6,720. The EUR/USD pair opened at 1.10914, and it has placed a high of 1.11447 and a low of 1.10701 until now. Overall the movement of pair remained bullish throughout the day and is currently trading at 1.11309. EUR/USD dropped to 1.107 before bouncing back to the upside after the Federal Reserve released its decision on Wednesday. The pair is trading close to 1.114 level when the American session is near to end. Some technical factors and the weakness of greenback drove this pair EUR/USD in the upward direction. Fed voted to conserve its rates on hold and announced to not change them in 2020 also. Despite the rates being on hold, the U.S. dollar did not gain traction in the market and continue to decline. The decision of the Federal Reserve to not change its rates or policy next year came in line with the market expectations and failed to give strength to the U.S. dollar. When asked whether a hike in interest rates would be seen next year, Chairman Jerome Powell answered that a persistent increase in inflation would be required to withdraw the stimulus Fed added this year. And that was a reasonably high bar which he does not think will be met in 2020. Following the meeting of the Federal Reserve on Wednesday, the 10-year Treasury bond yield fell below 1.80% to the lowest in a week, which affected the U.S. Dollar Index and made it decline to its lowest intraday level since August. The U.S. Dollar Index dropped to 97.10 on Wednesday and weighed on U.S. dollar prices. Weak U.S. dollar gave strength to its rival currency against it, and hence, the EUR/USD pair moved in an upward direction in the absence of any macroeconomic data from the Eurozone. However, on Thursday, the governing council of the European Central Bank will have its policy meeting with its new president Christine Lagarde. The expectations of the market suggest no change in the policy. EUR/USD - Daily Technical Levels Support Resistance 1.1121 1.1218 1.1063 1.1258 1.0966 1.1355 Pivot Point 1.116 EUR/USD – Daily Forecast The EUR/USD has also exhibited sharp buying in the wake of weaker the U.S. dollar. The EUR/USD seems to form an ascending triangle pattern, which may extend resistance around 1.1175. The bullish breakout of this level can continue buying until 1.1250. Whereas, the EUR/USD can find support around 1.1115 level today The GBP/USD pair opened at 1.31937, and it has placed a high of 1.32288 and a low of 1.30492 until now. Overall the movement of pair has remained bearish. The pair is currently trading at 1.31803 and is moving towards the upside. The British Pound shot higher as forex traders rushed to price in a victory for the Conservative party in the United Kingdom general election after Boris Johnson captured an overall majority in parliament. Sterling soared 2.7% to trade around $1.351, its highest mark versus the US dollar since May 2018, leading it on course for one of its most significant ever one-day profit. Sterling reached its highest level versus the euro since December 2016, placing €1.207. Since the UK general elections have been called on 29th October, Sterling has gained its strength. The upbeat movement was supported by the speculations that Prime Minister Boris Johnson’s Conservative Party will secure more majority in the election, and that’s precisely what has happened. There are two viable outcomes for 2019 UK general elections one is the most widely expected, which is the victory of the Conservative Party. However, the market has already priced in a win for Tories so, any immediate upside in Sterling is likely to be limited. On the other hand, the trade optimism after a positive tweet of Donald Trump supported the US dollar and added in the downward trend of GBP/USD on Thursday. GBP/USD - Daily Technical Levels Support Resistance 1.3168 1.3633 1.2876 1.3807 1.2411 1.4273 Pivot Point 1.3342 GBP/USD – Daily Forecast The GBP/USD exhibited dramatic buying over U.K. parliamentary elections. The GBP/USD pair is trading bullish on the weekly timeframe, as GBP/USD has crossed over 1.3295 double top resistance, and now this level may work to support. Continuation of a bullish trend above 1.3325 can lead the GBP/USD prices towards 1.3660 level soon. All the best for today.

The U.S. dollar continues to keep the bearish bias over dovish monetary policy. Despite the rates being on hold, the U.S. dollar did not gain traction in the market and continue to decline. The decision of the Federal Reserve to not change its rates or policy next year came in line with the market expectations and failed to give strength to the U.S. dollar. When asked whether a hike in interest rates would be seen next year, Chairman Jerome Powell answered that a persistent increase in inflation would be required to withdraw the stimulus Fed added this year.   The BTC/USD has dropped below the trading range of 7400 - 7300, to trade around 7,200 level. The leading crypto pair was trading within a symmetric triangle pattern, which was supporting it around 7330. At the moment, the same support level is working as a resistance, keeping the BTC/USD prices below 7,330. The BTC/USD traded in a bearish tone, shedding 1.80% at the time of writing, as the bulls try to break below $7500. The BTC/USD tested high at $7,660 and a low at $7,370, with most of the price action taking a point in the other half of the day. Support Resistance 7,383.18 7,703.07 7,187.84 7,827.62 6,867.95 8,147.51 Pivot Point 7,507.73 The BTC/USD is facing triple bottom support around 7080, along with resistance around 50 periods EMA at 7,248. The RSI and MACD are in a selling zone, suggesting chances of a bearish breakout. In that case, the bearish breakout can expose the BTC/USD towards 6,850 and 6,720. Today, the continuation of a bearish trend may lead it towards the 7095 area while the pair may face resistance at 7435 now. The leading indicators, such as RSI and MACD, are also in support of bearish bias today. The EUR/USD pair opened at 1.10914, and it has placed a high of 1.11447 and a low of 1.10701 until now. Overall the movement of pair remained bullish throughout the day and is currently trading at 1.11309. EUR/USD dropped to 1.107 before bouncing back to the upside after the Federal Reserve released its decision on Wednesday. The pair is trading close to 1.114 level when the American session is near to end. Some technical factors and the weakness of greenback drove this pair EUR/USD in the upward direction. Fed voted to conserve its rates on hold and announced to not change them in 2020 also. Despite the rates being on hold, the U.S. dollar did not gain traction in the market and continue to decline. The decision of the Federal Reserve to not change its rates or policy next year came in line with the market expectations and failed to give strength to the U.S. dollar. When asked whether a hike in interest rates would be seen next year, Chairman Jerome Powell answered that a persistent increase in inflation would be required to withdraw the stimulus Fed added this year. And that was a reasonably high bar which he does not think will be met in 2020. Following the meeting of the Federal Reserve on Wednesday, the 10-year Treasury bond yield fell below 1.80% to the lowest in a week, which affected the U.S. Dollar Index and made it decline to its lowest intraday level since August. The U.S. Dollar Index dropped to 97.10 on Wednesday and weighed on U.S. dollar prices. Weak U.S. dollar gave strength to its rival currency against it, and hence, the EUR/USD pair moved in an upward direction in the absence of any macroeconomic data from the Eurozone. However, on Thursday, the governing council of the European Central Bank will have its policy meeting with its new president Christine Lagarde. The expectations of the market suggest no change in the policy. Support Resistance 1.1072 1.1105 1.1052 1.1118 1.102 1.1151 Pivot Point 1.1085 The EUR/USD traded sharply bullish over dovish FOMC and weakening the U.S. dollar. The EUR/USD pair is now holding into the small bullish channel, which is surprising he pair around 1.1125 along with the resistance area of around 1.1140. A bullish breakout of this level can extend buying until 1.1175. Today, the EUR/USD pair can exhibit dramatic movement on the release of the ECB rate decision. Where dovish sentiment from ECB may drive sell-off in the Euro, alternatively, a bullish breakout can be experienced in the EUR/USD. The GBP/USD opened at 1.31536, and it has placed a high of 1.32131 and a low of 1.31052 since then. Overall the movement of pair GBP/USD remained bullish throughout the day, and the pair is currently trading at 1.31948. The GBP/USD pair rallied to fresh eight months high of 1.32132 after the drop of U.S. dollar due to recent dovish comments from Fed Chair Jerome Powell. The U.S. dollar index dropped to 97.08 from the highest 97.6 and weighed the U.S. dollar. During his speech, Powell said all the things in favor of the U.S. dollar. Still, in the Q&A session, when asked about the rate hike possibility next year, Powell said that it seemed impossible because it was only possible when inflation would go above the target of 2%. So, there are no hopes for a rate hike in 2020. On the other hand, the British General elections are only one day away when voters in the United Kingdom will go to the polls for a crucial vote. This election would determine the country’s future and how and when it will leave the European Union. British politics have become chaotic because, in less than five years, this will be the fifth primary vote in the country. The European Parliament elections and the British referendum were major elections included in those. U.K. Government has failed to resolve its most significant challenge in decades to leave from E.U. All began when, in 2016, voters stunned the world and voted to leave from Europe. The Brexit vote was shocking, and it split the nation and the parliament. Boris Johnson shifted Prime Minister of the U.K. this summer and failed to pass his Brexit withdrawal agreement in the parliament. So, to win a majority in parliament, Johnson called a snap election to get his Brexit deal done. The former Prime Minister of UK Theresa May has also called an early election and tried to get her withdrawal deal approved three times this year but failed. If Boris Johnson wins on Thursday’s election and parliamentary approval, he hopes to take the United Kingdom out of European Union by the end of January. Whereas his opponent, Jeremy Corbyn, the leader of the Labour Party, which is the second-largest party in the parliament, has refused to take a side on Brexit. He said that he would renegotiate a withdrawal agreement with the European Union and then hold another referendum. In that referendum, Britain’s could vote for his deal or to stay in the E.U. GBP/USD remained in high demand on Wednesday ahead U.K. elections and also because of weakened U.S. dollar. Support Resistance 1.3121 1.3204 1.3085 1.3252 1.3002 1.3335 Pivot Point 1.3168 The GBPUSD is exhibiting a stable bullish trend as investors seem optimistic about the victory of the Conservative party and expect Boris Johanson to win the vote. The Cable may remain heavily volatile today and tomorrow as the election outcome will start coming out by tomorrow morning. On the upper side, the GBP/USD is likely to find resistance around 1.3265 and 1.3336, while the support can be seen around 1.3185 and 1.3110. All the best for today.

The U.S. dollar continued to trade with a mixed bias because of the FOMC meeting and the U.S. Inflation report today. The Brexit optimism, due to the prediction of the majority for the Conservative Party by YouGov Poll, remained under headlines since the poll was released. It is going to be updated, and if its prediction of 68 seat majority for Tories remains the same, the U.K. currency would see a massive boost in the market. While Euro remains stable in the wake of ZEW Economic Sentiment, which increased to 11.2 from expected 2.2, it further supported the Euro. Today, most of the traders will be focusing on U.S. Fed Monetary Policy and Inflation figures, which are scheduled to come out later during the U.S. session...   The BTC/USD traded in a bearish tone, shedding 1.80% at the time of writing, as the bulls try to break below $7500. The BTC/USD tested high at $7,660 and a low at $7,370, with most of the price action taking a point in the other half of the day. A day before, the BTC/USD price is bestowing positive symptoms over the $7,400 resistance zone versus the U.S. Dollar. The price is expected to clear the $7,560 and $7,600 resistances to stay higher. Bitcoin price is consolidating in a bullish zone over $7,400 versus the U.S. Dollar. BTC is expected to test the $8,000 resistance as long as it is over the $7,160 swing low. Support Resistance 7,383.18 7,703.07 7,187.84 7,827.62 6,867.95 8,147.51 Pivot Point 7,507.73 The BTC/USD has dropped below the trading range of 7400 - 7300, to trade around 7,200 level. The leading crypto pair was trading within a symmetric triangle pattern, which was supporting it around 7330. At the moment, the same support level is working as a resistance, keeping the BTC/USD prices below 7,330 today. Today, the continuation of a bearish trend may lead it towards the 7095 area while the pair may face resistance at 7435 now. The leading indicators, such as RSI and MACD, are also in support of bearish bias today. The EUR/USD prices opened at 1.10635 and have placed a high of 1.10976 and a low of 1.10627 until now. Overall the movement of the EUR/USD pair remained bullish throughout the day and is currently trading at 1.10963. At 11:30 GMT, the French Final Private Payrolls for the third quarter was dropped to 0.2% from expected 0.3% and weighed on single currency Euro. At 12:45 GMT, the French Industrial Production for November came in higher than expectations as 0.4% and supported Euro. At 14:00 GMT, the Italian Industrial Production for November came in as -0.3% from expected -0.2% and weighed on Euro. The closely watched German ZEW Economic Sentiment was released at 15:00 GMT, which showed a massive growth to 10.7 against the expectations of 1.1 and supported Euro on Tuesday. The ZEW Economic Sentiment for the whole Eurozone also increased to 11.2 from expected 2.2 and further supported Euro. The Euro gained strength against its rival currency U.S. dollar on Tuesday after the release of better than expected German economic sentiment. Euro rose 0.28% higher on that day amid the massive increase in ZEW economic sentiment of both Germany & the whole Eurozone. This indicated the possible revival of the German economy, and investors started to consider that European Central Bank would hold its rates on Thursday in its policy meeting due to improved economic figures. The outcome of British elections is also awaited in the market. After tomorrow, more volatility is expected to be seen in the market due to the most significant risk events this week, like Central Bank meetings and U.K. elections. The EUR/USD jumped higher on Tuesday after the stronger than expected macroeconomic data from Germany & Eurozone and is continuously rising still. Support Resistance 1.1072 1.1105 1.1052 1.1118 1.102 1.1151 Pivot Point 1.1085 The EUR/USD currency pair traded mostly bullish in the wake of positive fundamentals. It has already completed the 50% Fibonacci retracement around 1.1050 level. The EUR/USD currency pair is gaining support around 50 periods EMA which is expected to drive the pair higher towards 1.1085 pivot point mark. While on the leading indicator side, the Relative Strength Index (RSI) is holding in the selling zone. The RSI signals the chances of further bearish moves in the EUR/USD. The bullish crossover of 1.1085 is suggested to have additional buying opportunities until 1.1110 today. The GBP/USD pair closed at 1.31530 after placing a high of 1.32148 and a low of 1.31325. Overall the trend for GBP//USD pair remained bullish that day. At 14:30 GMT, the Gross Domestic Product for November from the United Kingdom was published and showed a decline to 0.0% from the expectations of 0.1% and weighed on GBP. However, the Manufacturing Production for the month showed a growth of 0.2% from the expectations of 0.1% and supported Pound. The Construction Output also declined to -2.3% from 0.2% of expectations. The Goods Trade Balance of the United Kingdom also declined to -14.5B against the prediction of -11.5B. The Services Index also dropped to 0.2% against the forecasted 0.3%. The British Industrial Production also dropped to 0.1% against the expectations of 0.2% and further weighed on Sterling. Despite the weaker than expected data from the United Kingdom, Sterling remained steady as polls continue to predict the victory of the Conservative Party in upcoming elections on December 12. Brexit optimism due to the prediction of the majority for the Conservative Party by YouGov Poll remained under headlines since the poll was released. It is going to be updated, and if its prediction of 68 seat majority for Tories remains the same, the U.K. currency would see a massive boost in the market. On the other hand, the Non-Farm productivity for the 3rd quarter fell on Tuesday and weighed on the U.S. dollar. U.S. Fed will hold its interest rates after its two days meeting, which will end on Wednesday. Support Resistance 1.3121 1.3204 1.3085 1.3252 1.3002 1.3335 Pivot Point 1.3168 Unlike the EUR/USD, trading in the GBPUSD remained mostly limited bearish. Overall, the GBP/USD is trading under pressure as the decline in GDP data continues to weigh on Sterling. The GBP/USD is consolidating at1.3135 level, staying mostly above the 50 periods EMA level. The GBP/USD is supporting the pair around 1.3125. The Cable may find the next resistance at 1.3165, and under this, GBP/USD can fall unto 1.3113 and 1.3075 marks. All the best for today.

A day before, the U.S. dollar remained under pressure because of no economic release and FOMC meeting ahead this week. Traders will be focusing on trade developments as the deadline of December 15 is near to increasing U.S. tariffs on Chinese goods in case of no-deal by then. Concerning the U.K. elections, the latest opinion poll by ICM on Monday showed that the Conservative Party of Prime Minister Boris Johnson was supported by 42% of voters while the opposition Labor party's support increased to 36%. Today, most of the traders will be focusing on British GDP figures, which are due to come out later during the European session... Bitcoin price is bestowing positive symptoms over the $7,400 resistance zone versus the U.S. Dollar. The price is expected to clear the $7,560 and $7,600 resistances to stay higher. There is a primary bullish trend line building with support around $7,490 on the hourly chart of the BTC/USD pair. The BTC/USD could rally once there is a definite close over $7,600 and $7,700 in the following days. Bitcoin price is consolidating in a bullish zone over $7,400 versus the U.S. Dollar. BTC is expected to test the $8,000 resistance as long as it is over the $7,160 swing low. Support Resistance 7,383.18 7,703.07 7,187.84 7,827.62 6,867.95 8,147.51 Pivot Point 7,507.73 The BTC/USD has again entered the same old trading range of 7400 - 7300. As we can see on the 4-hour chart above, the leading crypto pair was trading within a symmetric triangle pattern, which was supporting it around 7435. This level has already been violated, and the BTC/USD is peaking out of the symmetric triangle. Continuation of a bearish trend may lead it towards the 7095 area while the pair may face resistance at 7435 now. The leading indicators, such as RSI and MACD, are also in support of bearish bias today. The EUR/USD pair was opened at 1.10574 and has placed a high of 1.10779 and a low of 1.10533 until now. Overall the movement of pair has remained bullish throughout the day, and the pair is currently trading at 1.10616. At 12:00 GMT, the German Trade Balance for October was released, which beats the forecasted amount and supported the EUR/USD. The figure came in as 20.6B against the expected 19.0B. At 14:30 GMT, the Sentix Investor Confidence from Eurozone came in support of Euro at 0.7 and exceeded the expectations of -5.4. The improved investor's confidence in December despite looming US-China trade tensions and the German recession gave strength to the single currency Euro and supported EUR/USD prices on Monday. Patrick Hussy, the managing director of the Sentix group, said that more and more investors were convinced that the worst for the Eurozone economy was over and that the impulses from European Central bank and politicians will stimulate the economy in coming months. The largest economy of Europe and an export powerhouse of the eurozone, Germany, has been hit by trade conflicts between the United States & China. Still, Sentix's survey showed today that investors were optimistic about the future of Germany. On the other hand, the European Union has approved a 3.2 billion euros worth of state aid from seven European Union countries for research and innovation in battery technology. The aid is expected to unlock an additional 5B euro worth private investments. The whole project is planned to complete in 2031. Stronger than expected economic data from Europe and no data from the United States on Monday drove EUR/USD prices in the direction of Euro. The pair has shown a bullish trend until now and is currently trading at 1.10628. Support Resistance 1.1031 1.1101 1.1 1.1141 1.093 1.1211 Pivot Point 1.1066 The EUR/USD currency pair hasn't changed much since it completed the 50% Fibonacci retracement around 1.1050 level. The EUR/USD currency pair is gaining support around 50 periods EMA which is expected to drive the pair higher towards 1.1066 pivot point mark. While on the leading indicator side, the Relative Strength Index (RSI) is holding in the selling zone. The RSI signals the chances of further bearish moves in the EUR/USD. The bullish crossover of 1.1075 can opens up additional opportunities for buying until 1.1110 today. The GBP/USD pair was opened at 1.31336 and has placed a high of 1.31802 and a low of 1.31310 until now. Overall the movement of pair has remained bullish throughout the day, and the pair is currently trading at 1.31461. The pair dropped from 1.3180 level on Monday and remained range-bound near 1.3135 level. The GBP/USD pair seemed rising and moving in a bullish trend, but it remained in the limits under 1.3200. The Pound is continuously being supported by the general election polls suggesting the victory of the Conservative Party on December 12. The latest opinion poll by ICM on Monday showed that the Conservative Party of Prime Minister Boris Johnson was supported by 42% of voters while the opposition Labor party's support was increased to 36%. No change in Tori's followers, but an increase in opposition followers was concerning and pushed the Pound modestly to the downside across the board from 1.3180 level. The U.S. Dollar remained under pressure on Monday because of no economic release and FOMC meeting ahead this week. Traders will be focusing on trade developments as the deadline of December 15 is near to increasing U.S. tariffs on Chinese goods in case of no-deal by then. However, the pair GBP/USD is highly sensitive to British Elections, which are due on December 12. Tories are expected to hold more seats in parliament, but the opposition party is gaining strength and holding its feet firm in the ground day by day. As the elections are coming closer, the political uncertainty is increasing and giving pressure to the single currency Sterling. Support Resistance 1.3128 1.3145 1.3118 1.3152 1.3111 1.3162 Pivot Point: 1.3135 Just like the EUR/USD, trading in the GBPUSD remained mostly limited due to a lack of top-tier fundamentals. Overall, the GBP/USD is trading under pressure as the positive NFP figures continue to strengthen the U.S. dollar. Positive NFP has diminished the Fed rate cut sentiments. The GBP/USD is consolidating at1.3145 level, staying mostly above the 50 periods EMA level. The GBP/USD is supporting the pair around 1.3125. The Cable may find the next resistance at 1.3165, and under this, GBP/USD can fall unto 1.3113 and 1.3075 marks. All the best for today.