The US Dollar is considered as the biggest rival of the Euro, and these currencies often see a negative correlation. Another reason behind the Euro’s strength last week was the weakness of the US Dollar. Michel Barnier, the EU negotiator on Friday, said that UK has accepted that the Custom border cannot be erected as a solution to the backstop, and both sides were racing to reach a deal before EU Summit next week. US Dollar showed weak performance last week after the release of minutes from the Fed’s previous meeting, which showed a surprising split in tone among officials. Fed in the last month cut its bank rate by quarter points. The minutes revealed that some officials were against the bank rate cut, and some wanted an aggressive rate-cut. The speculations that the Fed will be more dovish next month made US Dollar wear. Overall, the banks will be closed in observance of Thanksgiving Day today.     BTC/USD - Daily Analysis The Bitcoin traders were excited to see Bitcoin had suddenly dropped the $8,600 resistance to break over $8,800 in less than an hour. It was a huge move, and it would have established the point that bulls had obtained enough force to start a rally. Since its very small pump to $8,700 on Friday, BTC dropped back to support at just over $8,300 and settled there for the span of the weekend. Very light trading activity had occurred until late Sunday trading in the New York trading session when the BTC/USD was pushed above $8,400 for a few hours. Support Resistance 8133.86 8654.05 7951.34 8991.72 7431.15 9511.91 Pivot Point 8471.53 Bitcoin is gaining support above 8,115 levels, with a resistance of 8,340 levels. On the hourly timeframe, bullish trendline supporting the BTC/USD above 8,115 level. Today, a bullish breakout of 8,340 resistance can lead the BTC/USD prices towards 8,500 level. EUR/USD was closed at 1.10360 after placing a high of 1.10627 and low of 1.10008. The overall trend remained Bullish for EUR/USD pair prices on the ending day of the week. Despite the concerns of the German Economy falling into recession this year, EUR/USD showed gain throughout last week and is moving towards further gains next week. Euro gained from the fresh speculations that European Central Bank might be hesitant to avoid taking another dovish measure on Eurozone Monetary Policy due to split views among officials. The news stated that ECB President Mario Draghi ignored the advice in contradiction of the reintroduction of quantitative easing. This gave the thought that ECB was not as dovish as expected and made Euro stronger. The US Dollar is considered as the biggest rival of the Euro, and these currencies often see a negative correlation. Another reason behind the Euro’s strength last week was the weakness of the US Dollar. US Dollar showed weak performance last week after the release of minutes from the Fed’s previous meeting, which showed a surprising split in tone among officials. Fed in the last month, cut its bank rate by quarter points. The minutes revealed that some officials were against the bank rate cut, and some wanted an aggressive rate-cut. The speculations that the Fed will be more dovish next month made US Dollar wear. The US-China trade talks also caused decreased demand for haven US Dollars when two parties agreed on a partial deal on the ending day of last week. The EUR/USD gained to a 3-week high place on Friday and showed a robust Bullish trend previous week. Support Resistance 1.0932 1.0988 1.0909 1.102 1.0854 1.1075 Pivot Point 1.0964 The EUR/USD is forming higher's high and higher's low pattern on the hourly chart. With this, the trend seems bullish, and the bullish trendline is supporting the pair around 1.1020 today. Above this, the EUR/USD may continue with its bullish trend until 1.1050. Whereas, the violation of 1.1020 can lead the EUR/USD towards 1.0990 level. A day before, GBP/USD was closed at 1.26468 after placing a high of 1.27071 and a low of 1.24079. The overall trend remained Bullish for GBP/USD pair prices on the ending day of the week. After Thursday’s meeting of UK President, Boris Johnson and Irish Premier, Leo Varadkar Sterling has jumped the most over two days since 2009. Both parties shared the same comments after the meeting that they could see a pathway to a deal before the deadline of Brexit. On Friday, Johnson admitted that there was a way forward for Brexit to deal with the EU, but much work needs to be done. He also said that he could not give commentary on the running negotiations when asked about Northern Ireland staying under EU custom union. But Michel Barnier, EU negotiator on Friday, said that UK has accepted that Custom border cannot be erected as a solution to the backstop, and both sides were racing to reach a deal before EU Summit next week. This news caused a dramatic increase in the demand for Pound and created a robust Bullish trend for GBP/USD on the ending day of the week. Weaker US Dollar due to US-China trade talks added further in the upward direction of GBP/USD that day and made a sudden jump in prices after a decade. Support Resistance 1.2469 1.2768 1.2289 1.2887 1.199 1.3185 Pivot Point 1.2588 Two things about the GBP/USD. Firstly, the GBP/USD has violated the double top resistance level of 1.2535, and this level can keep it bullish above this level. On the upper side, the GBP/USD has the potential to go after 1.2760. Right now, the GBP/USD is holding above 38.2% Fibonacci retracement at 1.2590, and violation of this could drive further retracement in the Cable until 1.2527. So, 1.2585 is a crucial level to focus on today. All the best for today.  

On Friday, most of the investor's focus stays on the U.S. - China trade talks. The United States and China started its top-level negotiations in Washington. After the meeting, it was reported in South China Morning Post that there was no progress in deputy-level trade-talks and that Liu would cut his visit short. The last month's Federal Reserve meeting minutes were issued on Wednesday, which showed increasing concern about the market expectations on further rate cuts this year. The U.S. Consumer Price Index (CPI) showed a drop in September and increased the possibility of further rate cuts by fed and made U.S. Dollar weaker on Thursday. The ECB lowered its deposit rates by ten basis points and introduced a new bond-buying program that would schedule in November. Bank's officials highly criticized this decision as it would lead to less growth and lower productivity.   Lately, there was a definite surge in bitcoin over the $8,602 and $8,652 resistance areas versus the US Dollar. Besides, the price fastened over the $8,800 resistance zone and endured well over the 100 hourly simple moving average. The price traded near to the $8,950 level and made a fresh weekly high at $8,934. Nevertheless, the price attempted to stay more elevated, and there was a definite drop under $8,800. In addition to this, the price breached the 61.8% Fib retracement point of the current rally from the $8,457 low to $8,934 peak. There is a big red candle closing on the hourly graph with the body beneath $8,600. The price of Bitcoin even traded under the last swing low at $8,457. However, the $8,400 support area is acting as a support. More importantly, there is a primary bullish trend line setting with support near $8,400 on the hourly graph of the BTC/USD. Support Resistance 7,671.27 8,489.78 7,281.7 8,918.72 6,463.19 9,737.23 Pivot Point 8,100.21 On Friday, the BTC/USD continues to trade with the same technical analysis as before. BTC violated the bearish trendline like resistance at 8140 levels to place a high around 8,700 resistance levels on Thursday. Now, the BTC/USD can exhibit bearish retracement until 38.2% Fibo levels at 8,400. On the upper side, resistance continues to stay at 8,650 and 8,710. The EUR/USD was opened at 1.09704 and has placed a high of 1.10338 until now. The pair is currently trading at 1.10109. At 11:00 GMT, the German Trade Balance was released, which dropped in September to 18.1B against 19.4B expectations. The French Industrial Production at 11:45 GMT also shows a drop to -0.9% against 0.2% forecast. However, the Italian Industrial Production at 13:00 GMT showed growth to 0.3% against 0.2% expectations. In the early session on Thursday, EUR/USD showed a sharp rise in its prices due to weaker USD, but in the late session, the pair started to fall after the release of European Central Banks’ Monetary Policy Meeting Accounts. The meeting accounts suggested that there was strong opposition to the monetary easing package by Mario Draghi last month. It weighed on single currency I,e Euro and caused a downfall in EUR/USD prices. ECB lowered its deposit rates by ten basis points and introduced a new bond-buying program that would schedule in November. Bank’s officials highly criticized this decision as it would lead to less growth and lower productivity. The last month’s Federal Reserve meeting minutes were issued on Wednesday, which showed increasing concern about the market expectations on further rate cuts this year. The US Consumer Price Index (CPI) showed a drop in September and increased the possibility of further rate cuts by fed and made US Dollar weaker on Thursday. Support   Resistance 1.0932      1.0988 1.0909      1.102 1.0854      1.1075 Pivot Point 1.0964 The EUR/USD has violated the ascending triangle pattern at 1.0996, and now the same level is working as a support. On the upper side, the EUR/USD may find resistance at 1.1025. A bullish breakout of this level can extend bullish bias until 1.1069 A day before, GBP/USD was closed at 1.22039 after placing a high of 1.22909 and a low of 1.21974. The overall movement remained Bearish that day. In the early session of Wednesday, a report stated that European Union was ready to make a significant concession on Brexit Deal by offering a mechanism for Northern Irish assembly to leave a new so-called backstop after several years. After the release of this news, there was a sharp rise in the prices of GBP/USD. But later, the E.U. denied and called this news as fake and made the movement of pair in the previous trend. Later, on Wednesday, Scotland's high court said that it would wait to decide any action on Prime Minister Boris Johnson to ask for Brexit Delay on the failure of securing a deal by Oct 19 with the European Union. It's been three long years since the U.K. voted to leave the European Union, and to work out this departure, a deal has not yet been secured between both parties due to conflict of interests. U.K. Prime Minister, Boris Johnson, has vowed that he would not seek an extension and make Brexit happen on said deadline I,e Oct 31 and without breaking any law. But the law compels him to ask for a delay in case of failure to reach a deal. Some opponents fear that he might have found a loophole while others think he is bluffing. For now, it's up to judges to determine whether to delay Brexit or not. And judges have now announced that they would take a decision after E.U. Summit, which has increased uncertainty in the market and weighed on Sterling? Sterling showed a sharp fall in the prices on Wednesday and placed a low of 1.21974 that day. Support   Resistance 1.2177       1.2285 1.2133       1.2348 1.2025      1.2455 Pivot Point 1.224 The GBP/USD is challenging the 1.2450 handles while spanning the entire October range. The bullish Marobuzo candle on the daily timeframe seems risky for sellers as it suggests further buying in the GBP/USD. On the upper side, the GBP/USD may find resistance at 1.2350 today, while support remains at 1.2370. All the best for today.

On Thursday, the financial market's focus stays on the range of high impact economic events such as the U.S. CPI and U.K. GDP, which are due to come out during the day. There was no macroeconomic release from the European side, and as of the American side, the Final Wholesale Inventories at 19:00 GMT, came in favor of Dollar as 0.2% against expected 0.4%. However, the JOLTS Job Openings with 7.05M against 7.35M expectations weighed U.S. dollars. So, the data release from the United States had almost null-effect on EUR/USD.   Bitcoin (BTC) soared 5.1% to trade at the highest price in three weeks following the Federal Reserve (Fed) remarks it would issue money to grow the volume of bank reserves – seen as a move by the U.S. central bank that could trigger inflation. Moreover, the speculation that SEC might allow ETF employment by Bitwise is feeding confidence that more investors could allot funds to the cryptocurrency. Lately, the Bitcoin has undergone an abrupt drop in late September, dropping from over $10,000. While the monthly futures contracts of BTC's first week of trading, it succeeded in earning just $5 million of cumulative volume, frustrating industry watchers who had expected a higher uptake from large institutional traders. Support Resistance 7,671.27 8,489.78 7,281.7 8,918.72 6,463.19 9,737.23 Pivot Point 8,100.21 The BTC/USD has also violated the bearish trendline like resistance at 8140 levels to place a high around 8,700 resistance levels. Now, the BTC/USD can exhibit bearish retracement until 38.2% Fibo levels at 8,400. On the upper side, resistance continues to stay at 8,650 and 8,710. The EUR/USD was closed at 1.09710 after placing a high of 1.09901 and a low of 1.09514. The overall movement remained Bullish that day. From the Eurogroup meeting, so far, only the following comment was reported: The head of Eurozone Finance Ministers, Mario Centeno, said that the Eurozone countries with fiscal space should invest in boosting economic growth. There was no macroeconomic release from the European side, and as of the American side, the Final Wholesale Inventories at 19:00 GMT, came in favor of Dollar as 0.2% against expected 0.4%. But the JOLTS Job Openings with 7.05M against 7.35M expectations weighed U.S. Dollar. So, the data release from the United States had almost null-effect on EUR/USD. But on the news front, U.S. Dollar was under headlines on Wednesday because of US-china Trade talks and Jerome Powell's speech. In a statement on Tuesday, Fed Chairman Jerome Powell gave a hint on the possibility of further action before the end of the year, which weighed on U.S. Dollar and caused an upward trend of EUR/USD. As for the trade talks are concerned, China stated that they were willing to open a partial trade deal despite the blacklisting of Chinese firms by the United States. China has even offered to increase the purchase of Soybeans from American farmers as a measure of goodwill before trade talks. This also weighed on U.S. Dollar and supported the Bullish trend of EUR/USD on Wednesday. Despite weak U.S. Dollar, the rise in the prices of EUR/USD was not that high as it should be; this was because of the uncertainty prevailing in the market related to deal settlement between European Union and the United Kingdom regarding the Brexit agreement with a deadline ahead this month. Support Resistance 1.0932 1.0988 1.0909 1.102 1.0854 1.1075 Pivot Point 1.0964 As discussed previously, the EUR/USD gained support at 1.0949 area and bounced off above this level after forming a Doji pattern. For now, the same level is working as a support for the EUR/USD pair. While the significant resistance can be seen at 1.0997. Just like the GBP/USD, the EUR/USD may also trade choppy within a range of 1.0997 - 1.0949, until this range is violated. By the way, the bullish break seems more likely, and it may lead to EUR/USD towards1.10250. A day before, GBP/USD was closed at 1.22039 after placing a high of 1.22909 and a low of 1.21974. The overall movement remained Bearish that day. In the early session of Wednesday, a report stated that European Union was ready to make a significant concession on Brexit Deal by offering a mechanism for Northern Irish assembly to leave a new so-called backstop after several years. After the release of this news, there was a sharp rise in the prices of GBP/USD. But later, the E.U. denied and called this news as fake and made the movement of pair in the previous trend. Later, on Wednesday, Scotland's high court said that it would wait to decide any action on Prime Minister Boris Johnson to ask for Brexit Delay on the failure of securing a deal by Oct 19 with the European Union. It has been three years since the U.K. voted to leave the European Union and to work out this departure, a deal has not yet been secured between both parties due to conflict of interests. U.K. Prime Minister, Boris Johnson, has vowed that he would not seek an extension and make Brexit happen on said deadline I,e Oct 31 and without breaking any law. But the law compels him to ask for a delay in case of failure to reach a deal. Some opponents fear that he might have found a loophole while others think he is bluffing. It is now up to judges to decide whether to delay Brexit or not. And judges have now announced that they would take a decision after E.U. Summit, which has increased uncertainty in the market and weighed on Sterling? Sterling showed a sharp fall in the prices on Wednesday and placed a low of 1.21974 that day. Support Resistance 106.77 107.41 106.47 107.75 105.83 108.39 Pivot Point 107.11 GBP/USD – Daily Forecast The hard Brexit sentiments are keeping the Sterling on knees. Therefore, the GBP/USD is exhibiting a sharp bearish movement. The cable is trading at 1.2221 after gaining support around 1.2198. The overall trend seems choppy as the GBP/USD can continue to trade in between 1.2280 - 1.2108 range. However, the bearish breakout may extend the GBP/USD selling until 1.2170 after exhibiting slight retracements. All the best for today.

The greenback slipped against the safe-haven Japanese yen on Tuesday, urged by repeated worries about trade. Still, the dollar rose against other currencies as Federal Reserve Chair Jerome Powell abstained from performing to more rate reductions even following data revealed an astonishing decline in U.S. producer inflation. The European Commissioner President Jean Claude Juncker said that the U.K. was Blaming the failure of negotiations on the European Union, but the explanation should be given by British camp because the original sin was on Island and not on the continent. He further said that in a scenario of No-Deal Brexit, nobody would come out as the winner, and the U.K., along with E.U., would face a decline in economic growth. Today, the focus stays in the FOMC meeting minutes from the U.S. Federal Reserve.   The leading cryptocurrency Bitcoin has slightly traded lower from $8,183 to $8,178 so far. The sellers succeeded in edging out the buying trades this Tuesday. Bitcoin price dropped from $8,215.70 to $8,180. The Bitcoin is also trading under pressure due to the U.S. government opposition to Bitcoin. The resistance of the U.S. on Cryptocurrencies have become evident since Donald Trump joined the White House. At the beginning this year, U.S. President Trump discussed shockwaves during the bitcoin and cryptocurrency business while he tweeted a cruel attack on Facebook's bitcoin rival projects, marking it and bitcoin "unregulated crypto assets." Support Resistance 7,671.27 8,489.78 7,281.7 8,918.72 6,463.19 9,737.23 Pivot Point 8,100.21 The BTC/USD is staying bearish below an immediate resistance level of 8,206. Lately, it has formed Doji and Spinning top patterns below this level on the hourly timeframe, signaling a lack of bullish power in the BTC/USD. On the downside, the support prevails at 8000, and below this, the bitcoin has the potential to go after 7785. The EUR/USD was opened at 1.09703 and has shown a robust Bearish trend yesterday. At 11:00 GMT, the German Industrial Production came as 0.3% against -0.2% expectations, showed that the possible recession fear of the German economy might not be that bad. The French Trade Balance at 11:45 GMT came -5.02B against -4.23B expected, weighed on Euro. The Italian Retail Sales at 13:00 GMT, came -0.6% against -0.1%. After the release of German Industrial Production, EUR/USD moved in an upward direction and placed a high of 1.09959. Still, the releases from France & Italy about Trade balance & Retail Sales moved in the reverse direction. The Dollar was weaker on Tuesday due to low inflation data as -0.3%, but it could not lift the movement of EUR/USD amid the increased tensions related to the possibility of no-deal Brexit in the coming weeks. The European Commissioner President Jean Claude Juncker said that the U.K. was Blaming the failure of negotiations on the European Union, but the explanation should be given by British camp because the original sin was on Island and not on the continent. He further said that in a scenario of No-Deal Brexit, nobody would come out as the winner, and U.K. with E.U. would face a decline in economic growth. Support Resistance 1.0932 1.0988 1.0909 1.102 1.0854 1.1075 Pivot Point 1.0964 The single currency Euro slipped against the U.S. dollar due to strengthening greenback, and weaker than expected economic events from the Eurozone. However, the EUR/USD pair has gained support at 1.0945 level. Today this level will help us determine further trends of the EUR/USD. Above this, the EUR/USD can stay bullish until 1.0999, whereas bearish breakout of this level can extend bearish rally until 1.0907. A day before, the GBP/USD was opened at 1.22899 and has shown a robust Bearish trend. On Tuesday, the Government of Boris Johnson, UK Prime Minister, reacted to a call between Angela Merkel, German Chancellor & Johnson. The officials said that Merkel told Prime Minister that Northern Ireland must remain part of the European Union's customs union. Otherwise, the deal looked "essentially impossible, not just now but ever." In reply, Johnson said that the European Union's unwillingness to make any deal based on his latest proposal gave way to a No-Deal Brexit. In response to this, European Council President Donald Tusk said that the U.K. was playing the blame game and that future of Europe was at stake. He also said that the U.K. did not want an extension nor a deal or to revoke. He added that he would not accept that blame game of pinning the failure of negotiation on E.U. He concluded that in a scenario of No-Deal Brexit, nobody would come out as the winner, and the U.K., along with E.U., would face a decline in economic growth. The situation is moving forward to a no-deal before the next week's summit. Without that, Johnson has vowed to take Britain out of E.U. by the month's end. However, if he doesn't have a deal secured by Oct 19, he is required by English law to seek an extension. The E.U. Officials have acknowledged that it is the strategy of the British Government to blame the responsibility of delay or no-deal Brexit onto them. E.U. has shown that they are willing to permit an extension. Since the start of the Brexit negotiations, European Union has cleared its position that they need to keep Northern Ireland in European Custom Union unless the U.K. finds another suitable way to control the flow of goods across the Irish border without additional checking. This chaos moved the prices of Pound to the lowest level on Tuesday and caused the Pair GBP/USD to move in the Bearish trend. Support Resistance 106.77 107.41 106.47 107.75 105.83 108.39 Pivot Point 107.11 GBP/USD – Daily Forecast The GBP/USD slipped lower dramatically from 1.2280 to 1,2217 area on hard Brexit chances. The cable has violated the double bottom level at 1.2225 and has closed series of neutral candles below this, which are confirming the bearish breakout. With that being said, the GBP/USD may continue trading lower towards 1.2170 after exhibiting slight retracements. All the best for today.

The greenback was little changed versus the basket of currencies on Monday as traders expected the U.S.-China trade discussions following in the week for evidence to the state of the extended trade war between Washington and Beijing, even as outcomes of an agreement seemed low. Overall, the trader's appetite for risk was thin on Monday following a Bloomberg story stated that Chinese officials were unwilling to consent to U.S. President Donald Trump's extensive trade agreement. On Monday, in response to the criticism of Fed's Monetary Policy from U.S. President Trump, the Fed Chair Powell highlighted the importance of Independent Central Bank, which also made a fall in the prices of EUR/USD.   BTC/USD - Daily Analysis The BTC/USD finished the week lower; in fact, it opened with a dramatic bearish gap on Monday, signaling sharp bearish bias among traders. The bullish reversal came on bullish fundamentals. The SEC (Securities and Exchange Commission) has begun an Oct 13 deadline for signing a bitcoin-based exchange-traded stock from Bitwise Investments, a movement that could indicate a significant breakthrough in bitcoin's long-term growth story. The leading cryptocurrency has been volatile this year, dropping by more than 20% in one week in late September to its softest level since July amid increasing uncertainty and ambiguity. Bitcoin placed its 2019 peak of over $11,000 in June, as per the cryptocurrency exchange Bitstamp. Support Resistance 7,671.27 8,489.78 7,281.7 8,918.72 6,463.19 9,737.23 Pivot Point 8,100.21 The BTC/USD has covered the bearish gap, which was triggered on Monday. The 7700 area extended support to the leading cryptocurrency. On the hourly timeframe, the BTC/USD has also violated the bearish trendline like resistance at 8140 levels. With this, the BTC/USD gets an open room for further buying until 8,400. On the way, the 8,330 may work a slight hurdle today.   A day before, the EUR/USD was opened with 1.09790 and is currently moving at 1.09713. At 11:00 GMT, the German Factory Orders came as -0.6% against -0.4% expectations and weighed on Euro. At 13:30 GMT, the Sentix Investor Confidence from Europe was released as -16.8 against -12.9 expectations and weighed further on the single currency. Pair was already under pressure from the previous week's positive Job data from the USA, which reduced the fears of economic slowdown and tariffs imposed on E.U. goods from the USA. Moreover, on Monday, the weak economic data release from Europe added to the downward movement of EUR/USD. The fall in German Industrial Orders in the previous month enhanced the concerns about emerging Recession in the German Economy. The Investor's confidence in eurozone showed a decline due to the prevailing recession fears and the central bank's failed measures to handle this fear. Besides these macroeconomic data, investors had eyes on US-China Trade Talks, which are due this week on 10-11 Oct. According to Bloomberg, the Chinese officials are hesitant to agree to the trade deal pursued by Trump. German 10-Year Bond Yield fell with 1.1 basis point to -0.598%. There was a slight decline in eurozone government bond yields in response to concerns about US-China trade talks that could fail. The EUR/USD has placed a low of 1.09618 on the starting day of the week. On Monday, in response to the criticism of Fed's Monetary Policy from U.S. President Trump, The Fed Chair Powell highlighted the importance of Independent Central Bank, which also made a fall in the prices of EUR/USD. Support Resistance 1.0956 1.0994 1.0939 1.1017 1.0901 1.1056 Pivot Point 1.0978 The EUR/USD has formed an ascending triangle pattern which is supporting the major currency pair at 1.0970 along with resistance at 1.0995. Almost it's a range of 25 pips, and the breakout of this range may help us predict which way traders are likely to take the pair. Typically, the ascending triangle pattern breaks on the upper side, and if that happens, the EUR/USD may lead towards 1.1030 today. Yesterday, the GBP/USD was opened at 1.23012 and is currently trading at 1.22953. At 12:30 GMT, the House Price Index (HPI) from the Halifax Bank of Scotland was released as -0.4% against 0.4% expected. Moreover, at 15:40 GMT, the retail sales monitor from British Retail Consortium came as -1.7% against -0.8% expected. With the Brexit Deadline ahead and no deal settlement yet, Sterling remained under pressure. The French President, Emmanuel Macron, said that the European Union would decide at the end of the week about the possibility of Brexit deal. He said that negotiations should continue in the coming days in order to conclude the likelihood of an agreement that respects the E.U. Principals by the end of the week. Meanwhile, U.K. Prime Minister, Boris Johnson said that the bloc should not be tempted on thoughts that Brexit would delay. This pessimism has caused the Sterling to fall against U.S. Dollars at the starting session of the week. With deputy-level talks scheduled on Monday & Tuesday and the Top-level talks on Thursday & Friday of this week regarding the US-China Trade War, the focus is entirely upon them. The chances of a deal settlement between the U.S. & China are meager because of the mixed comments from both sides. However, the weak economic data from Britain and the strong U.S. Dollar caused the GBP/USD movement further downward to place a low of 1.22868 on Monday. Support Resistance 1.2271 1.2319 1.2253 1.2351 1.2205 1.24 Pivot Point 1.2302 GBP/USD – Daily Forecast The GBPUSD continues to trade sideways above within the suggested range of 1.2340 - 1.2290. The bullish trend line on the 4-hour chart is extending support at 1.2290. Violation of this support can extend the GBP/USD selloff until 1.2220. Conversely, the bounce off above 1.2290 can lead the Cable towards 1.2340 and 1.2385. All the best for today.

  The greenback slid on Friday following the U.S. labor market report that underperformed forecasts though was stable overall, as traders prevailed careful about political uncertainty in the United States and continuing trade talks with China. The greenback settled session peak versus the yen and Euro following the job announcement, after trading weaker for most of the session. The Unemployment rate of the U.S. came as 3.5% - a 50-Years lowest; it put some pressure over EUR/USD prices on the last day of the week. However, the U.S. Nonfarm Payrolls came as 136000 against 145000 expected.   After undergoing a long time of sideways trading below $8,000 regions, Bitcoin (BTC) has once again prolonged its bearish momentum and has started moving with a selling bias today. It has violated the 8,000 support areas to trade below this level on most major exchanges. At the time of review, the BTC/USD is trading in a bearish tone, falling around 1% at its aggregated price of $7,825. The 50 periods EMA is suggesting bearish bias as the Bitcoin is holding below 8,100, the resistance extended by EMA. The RSI and Stochastics hold in the selling zone. Therefore, the bearish breakout at 7,700 may drive further sell-off in the market today. Support Resistance 7,671.27 8,489.78 7,281.7 8,918.72 6,463.19 9,737.23 Pivot Point 8,100.21 It looks like long holidays in China are causing a slump in trading volume. Consequently, we are also seeing the trading volume lowering from the BTC/USD. Earlier today, the BTCUSD fell below a strong resistance area of 8200. The market, in fact, opened with a bearish gap, suggesting strong bearish bias among traders. On the 4 hour chart, 7650 is a double bottom area, which may keep the BTCUSD supported today. A day before, the EUR/USD was closed at 1.09772 after placing a high of 1.09983 and a low of 1.09569. The overall movement of EUR/USD remained Bullish that day. The pair EUR/USD has shown a Bullish trend throughout the last week due to Weak U.S. macroeconomic data. After the release of U.S. Manufacturing PMI, it was confirmed that the economic growth of the U.S. has also been affected by the US-China Trade war. When the data from the Labour Market of the U.S. was released last week, it showed that there was no satisfactory hiring from Private Sector in the U.S. in the previous month. It drove the pair to move further upward. When the Unemployment rate of the U.S. came as 3.5% - a 50-Years lowest, it put some pressure over EUR/USD prices on the last day of the week. However, the U.S. Nonfarm Payrolls came as 136000 against 145000 expected. These figures indicated a slowdown in the economic growth of the USA. Still, the job creation, even in weak economic growth, made it evident that the conditions were not so adverse. The Pair EUR/USD was under pressure when the World Trade Organization approved the tariffs on European Goods by the United States as a punishment against Illegal Aircraft Subsidies. Support Resistance 1.0921 1.0981 1.0883 1.1002 1.0823 1.1062 Pivot Point 1.0943 On the hourly timeframe, the EUR/USD has formed an ascending triangle pattern which is supporting the direct pair at 1.0970 along with resistance at 1.0995. Almost it's a range of 25 pips, and the breakout of this range may help us predict which way traders are likely to take the pair. Typically, the ascending triangle pattern breaks on the upper side, and if that happens, the EUR/USD may lead towards 1.1030 today. Lately, the GBP/USD was closed at 1.23323 after placing a high of 1.23567 and a low of 1.22759. The overall movement remained Bullish that day. The Housing Equity Withdrawal from the United Kingdom was released on Friday at 13:30 GMT, as -6.9B against -6.5 B weighed the Great Britain Pound. Like other currencies, GBP/USD was also affected by the U.S. Dollar's movement last week. The weak economic data from the U.S. made this pair GBP/USD go upward and place a high of 1.24129 previous week. The latest proposal related to the post-Brexit management of Border between E.U. member Ireland and British Province Northern Ireland was submitted by Boris Johnson, UK Prime Minister, to European Union on Wednesday. E.U. rejected this proposal, and a reworked plan was asked within limited days to work out a deal between U.K. & E.U. Johnson, despite been told by Law to ask for a new Brexit deadline in case of a no-deal settlement, said that he would make Brexit happen on the stated deadline Oct 31 with or without any deal. He hopes that the threat of no-deal Brexit could force the European Union to compromise. So, at the weekend, on Sunday, he began to phone European Leaders to sell his proposal. He urged European Leaders to intensify talks over Latest Brexit Proposal. Support Resistance 1.2291 1.2367 1.2245 1.2398 1.2169 1.2474 Pivot Point 1.2322 GBP/USD – Daily Forecast The GBPUSD is trading sideways above the 1.2310 area. The bullish trendline on the 4-hour chart is extended support at 1.2290. Whereas, the resistance stays at 1.2415. The trading bias remains neutral to slightly bearish today. All the best for today.

The U.S. dollar continues to trade lower versus peers in the wake of ongoing geopolitical tensions and the trade war between the U.S. and China. Lately, the U.S trade representative, Robert Lighthizer, said that the World Trade Organization has confirmed that after 15 years of litigation, the United States was entitled to impose countermeasures in response to EU’s illegal subsidies. Moreover, they expect a negotiation with the European Union in terms which will be beneficial for American Workers. Besides, the administration of Donald Trump announced to impose 25% tariffs on cheese, French wine, Scotch and Irish whiskeys, olives, business suits & sweaters, and a 10% tariff on European-made Airbus, as a punishment for illegal aircrafts subsidies. On Friday, the focus mostly remains on the U.S. Non-farm payroll data, which is scheduled to be released during the New York session.   The BTC/USD has further increased its period of consolidation as it remains trading in narrow ranges near $8,200 level, which seems to be a critical support level. The bulls of Bitcoin demand to resist crypto to trader higher in the short-term. Technically, the BTC/USD is creating a sort of double bottom, but this event will only be confirmed if the BTC can place an upwards move from its fresh lows. The leading crypto pair has formed a Doji candle, which signifies indecision among investors and the same time holds below the 200-day moving average, nullifying the corrective surge from fresh lows near $7,700. For now, the bullish crossover move above the 200 periods moving average can drive a bullish trend on the BTC/USD. Significant resistance stays at 8,500. Support Resistance 7,727.14 8,447.94 7,372.57 8,814.17 6,651.77 9,534.97 Pivot Point 8,093.37 The BTCUSD continues to trade below 8500 resistance area; In fact, now it's facing a slight resistance at 8,350 area, which is extending by the EMA and bearish trendline. It's been forming Doji candles below 8,350, suggesting neutral bias among traders. On the lower side, the BTC/USD can stay bearish until 8000, and below this, the support prevails at 7910. Technically, the indicators are suggesting a bearish bias for the Bitcoin. A day before, the EUR/USD was opened at 1.09584 and is currently moving at 1.09695. At 12:15 GMT, the Spanish Services PMI came as 53.3 against expected 53.9 weighed the Euro. The Italian Services PMI at 12:45 GMT came in favor of Euro as 51.4 against 50.4. However, the French & German Final Services PMI at 12:50 GMT were against Euro to come as 51.1 & 51.4 compared to forecasted 51.6 & 52.5, respectively. The final Services PMI from Europe also weighed its currency when it was released as 51.6 weaker than expected 52.0 at 13:00 GMT. The Product Price Index and Retail Sales at 14:00 GMT, from Europe, were also disappointing as -0.5% and 0.3%, respectively. At the starting session on Thursday, EUR/USD remained flat and showed no movement, but after the release of economic data from the European side, the pair showed mixed changes. The downward movement was most likely to be caused by the fall of German Services PMI to its lowest level in three years, which indicated the weakest growth rate in three years of the business & Service sector in September. When the economic release from American session came on board, EUR/USD started to gain its strength given the limited release of Unemployment Claims & ISM Non-Manufacturing PMI. This weaker than expected release rose the fear that the global economic slowdown has made its impact on the US economy as well. The pressure on the US Dollar gave strength to EUR/USD and made its movement upward to place a high of 1.09992. The Airbus after this announcement called for both parties EU & US to negotiate a settlement before the tariffs are imposed. They warned that it would create an escalation of trade tensions to the global economy. If the European Union and the United States reach a deal to settle their disputes, there are chances that tariffs could be avoided. However, there are no reports about them engaged in serious negotiations. Both sides have blamed each other for failure to avoid taxes. Support Resistance 1.0921 1.0981 1.0883 1.1002 1.0823 1.1062 Pivot Point 1.0943 The EUR/USD was placing higher's high and higher's low pattern in the hourly chart, which probably drove the bullish trend in the EURUSD. However, recently, the pair has formed a Doji at 1.0975, which is likely to drive short term bearish movement in the EURUSD can stay bullish above 1.0943 today. GBP/USD was opened at 1.22996 and is currently moving at 1.23390 on Thursday. In the early session, the GBP/USD showed a bullish trend because of the disappointing economic data release from the united states about ISM Non-Manufacturing PMI, which came as 52.6 against 55.1 expected. This release gave the fears of the US falling under recession due to a slowdown in economic growth. Hence moved GBP/USD on an upward trend. The GBP/USD pair placed a high of 1.24129 yesterday as British Prime Minister, Boris Johnson, explained the new proposal for Britain’s departure from European Union on Wednesday. The plan included a new regulatory zone in Northern Ireland in replacement of the backstop arrangement in the existing withdrawal bill. Boris Johnson was hoping that his new plan would unblock the stalled Brexit negotiations. However, the proposal was quickly condemned by Northern Irish politicians and European Union Officials as in “bad faith” and “unworkable.” Parliament has said that in-case of no settlement of deal with EU, Johnson must seek an extension in Brexit Deadline that was set as 31st October. Still, Johnson has repeatedly vowed that he would not do such a thing and would deliver Brexit on a promised date even without a deal. The calm response from Brussels gave further hope towards a no-deal exile of Britain from the European Union on 31st October. This has made Sterling drop against the US Dollar and created a downward trend in the late session on Thursday for GBP/USD. The Services PMI of United Kingdom at 13:30 GMT, came as 49.5 against 50.3 expected weighed on Pound on Thursday. Support Resistance 1.2242 1.234 1.2186 1.2381 1.2088 1.2479 Pivot Point 1.2283 GBP/USD – Daily Forecast The GBP/USD surged over a weaker dollars to place a high around 1.2415 resistance level but closed a test bar. The test bar reversed the GBP/USD pair to support the level of 1.2320 area. The movement in GBP/USD mostly depends upon NFP figures. Negative NFP may lead to GBP/USD towards 1.2415 and 1.2488. Conversely, the positive NFP may drive GBP/USD lower towards 1.2225 areas. Below 1.2225, the GBP/USD may find the next support around 1.2151. All the best for today.  

A day before, the U.S. dollar fell to a one-week low versus the bucket of peers over worries regarding global economic slowdown. Sellers mostly appeared in response to a sharp decline in U.S. manufacturing activity which hike concerns over the economic growth and if further rate cuts are needed to accommodate the slowing economy. Besides, the United States and China have previously increased tariffs on each other's goods which is also fueling the risk of recession and generated significant central banks to loosen monetary policy. Besides this, the possibility that Europe will answer in kind to U.S. tariffs is anticipated to promote concerns that global extension is set for an extended duration of stagnation. On the fundamental side, a Russian scientist has undergone a penalty for mining Bitcoin at a private atomic facility. Denis Baykov has been directed to give 450K rubles or approximately $6.9K for his engagement in the project. The event is the second of its class proclaimed this year. Beginning in 2019, scientists at a Ukrainian atomic energy plant were discovered to be practicing its equipment to mine Bitcoin. Bitcoin price is trading neutral, adding around +89.9 dollars or +1.09% during the Asian session. The BTC/USD is trading above 8,190 level, which is extending reliable support while the 50 periods EMA is continuing resistance at 8,400. The bearish breakout under $8,000 can prolong selling till $7,900. The relative strength index (RSI) is staying in the buy zone, suggesting higher chances of bullish reversals. Support Resistance 7,727.14 8,447.94 7,372.57 8,814.17 6,651.77 9,534.97 Pivot Point 8,093.37 The BTC/USD continues to hold below an immediate resistance level of 8580. The inside up candlestick pattern on the daily timeframe is still signaling odds of bullish reversal in the BTC/USD. Today, the BTC/USD may trade bullish above below8100 to target 8,500. Where the violation of 8,500 can lead BTCUSD towards 8,725 area. On Thursday, the EUR/USD is trading at 1.0958, losing just -0.0001 or -0.00% until now. Yesterday, the single currency jumped slightly during the U.S. trading session after initially dropping on Wednesday. The bullish bias has been seen in the EUR/USD as traders continue to see the 1.09 level, which gained much attention. Traders, most of the buying seen in the EUR/USD was due to the weaker dollar amid worse than expected ADP NFP data. The global economic slowdown and the U.S. China trade war seems to place its impact on the U.S. labor market. The U.S. biggest payroll data provider, the ADP, reported the U.S. had scored 135K new employments in September. Well, it's not a good sign for the U.S. economy as the average of the last three months is 145K a month, falling from 214K a year ago. It's fueling the sentiment that the U.S. Fed may need to cut interest rates further in order to accommodate the drop in economic performance. Support Resistance 1.0895 1.0954 1.0872 1.099 1.0814 1.1049 Pivot Point 1.0931 The EUR/USD has already crossed the above the double top resistance level of 1.0945 to test the next resistance level of 1.0966. Now we may see some profit-taking in the EUR/USD below 1.0966, and the pair can drop to 1.0944 before taking further bullish trends. The British Pound proceeds to struggle back and forth versus the greenback as we have noticed considerable choppiness encompassing the 1.2250 level. This is a field that was critical in the past, so it should not be a massive shock that it gets into action now. By taking a look at the chart, it seems as if we are attempting to create enough consolidation movement to trigger the next significant movement. As discussed earlier, the primary reason behind bullish bias in the GBP/USD has been the worse than expected ADP figures. It seems like the global economic retardation, and the U.S. China trade conflict has already started impacting the U.S. economic events, and here's the first one. According to ADP, the U.S. had scored 135K new employments in September, which is way less than the figure it used to be three months ago. The average of the last three months is 145K a month, falling from 214K a year ago. Lastly, the British construction division persisted stubbornly clung in a downturn. Since April 2009, the building project collapsed at the second-fastest pace, only nearly outpaced by June's slump. A historic sheer decrease in new orders was also recorded, while companies cut employment at the quickest rate since the ending of 2010 amid inadequate demand, client uncertainty, and faint confidence. With that being said, the Construction PMI figure slipped to 43.3 versus the 45.0 during the previous month. It's also keeping the Sterling under pressure as the BOE may need to do something to support the economy. Support Resistance 1.2242 1.234 1.2186 1.2381 1.2088 1.2479 Pivot Point1.2283 GBP/USD – Daily Forecast The GBP/USD hasn't changed much as it continues to face stiff resistance at 1.2330 level, which is extended by the double top and bearish trendline resistance. On the lower side, the immediate target is likely to be 1.2230, whereas the bullish breakout can lead the cable towards 1.2370. The bearish bias dominates today. All the best for today.

A day before, the U.S. dollar fell sharply versus most major currencies, after falling from a two-year peak during data revealed the U.S. manufacturing activity shrank at the quickest velocity in more than a decade in September. The weak manufacturing survey from the United States, along with other countries around the world gave a boost to the current expectations of further interest rate cuts from central banks. On the other hand, U.S. Dollars on Tuesday fell across the board on the release of weak manufacturing PMI from the Institute of Supply Management in the United States. The data showed that PMI has dropped to 47.8 points against 49.1 expectations.   Bitcoin price is consolidating mostly in a red zone, losing around 0.50% in the second half of the trading session. The BTC/USD price is gaining significant support at $7500, barring a free-fall. Price action has created a bearish flag formation on the daily chart, directed to a possible breakout south. On the smaller timeframe, the Bitcoin price action remained slightly bearish below 38.2% Fibonacci trading level. The 50 periods EMA is also extending resistance at the same level. On the other hand, the bearish breakout below $8,000 can extend sell0-off until $7,900. The relative strength index (RSI) has entered the overbought zone and may drive the bearish trend below 8100 today. Support Resistance 7,727.14 8,447.94 7,372.57 8,814.17 6,651.77 9,534.97 Pivot Point 8,093.37 As mentioned in the previous forecast, the BTC/USD managed to hold below an immediate resistance level of 8580. The pair has formed an inside up candlestick pattern on the daily timeframe, which is signaling odds of bullish reversal in the BTC/USD. Today, the BTC/USD may trade bearish below 8,500 until 8,000 level. While bullish bias may be seen above 8,500 breakouts as it can lead bitcoin towards 8,750 levels. EUR/USD opened on Tuesday with 1.08991 and has placed a high of 1.09427 until now. During the trading session on Tuesday, Euro went back and forth, giving confusion to traders about a specific trend. However, after the release of the US PMI Index, it showed a sharp rise in the prices of EUR/USD. From the European side, the following economic data were released on Tuesday. At 12:15 GMT, the Spanish Manufacturing PMI came as 47.7 against 48.2 expected. The Italian Manufacturing PMI at 12:45 GMT, came as 47.8 against 48.2 expected. On 12:50 GMT, the French Final Manufacturing PMI came as 50.1 against 50.3. The German Final Manufacturing PMI came as 41.7 against 41.4 expected. At 12:55 GMT. Moreover, at 13:00 GMT, the final Manufacturing PMI of Europe came as 45.7 against 45.6 expected. The CPI Flash Estimate from Europe at 14:00 GMT, dropped to 0.9% against 1.0% expected. On the other hand, US Dollars on Tuesday fell across the board on the release of weak manufacturing PMI from the Institute of Supply Management in the United States. The data showed that PMI has dropped to 47.8 points against 49.1 expectations. The weak PMI raised the possibility of the US recession in the market and dropped the prices of US Dollars immediately. Drop-in Dollar gave a push to EUR/USD pair and made a Bullish trend for it. Support Resistance 1.0895 1.0954 1.0872 1.099 1.0814 1.1049 Pivot Point 1.0931 The EUR/USD is in the overbought zone on the smaller timeframe, which is extending it an intraday resistance at 1.0940. Below this, we may see a slight sell-off until 1.0919 and 1.0907. On the upper side, a breakout of 1.0940 can extend buying until 1.0964. GBP/USD was opened on Tuesday at 1.22865 and has placed a high of 1.23387 until now. On Tuesday, Boris Johnson, UK Prime Minister, said that they were prepared to be flexible to solve the Irish backstop problem. Later that day, Bloomberg reported that the European Union was ready to consider a time limit on Irish Backstop. According to the report, if the United Kingdom accepts an Irish-only Backstop only then a time limit would be offered on a backstop. It means that Northern Ireland would remain in the customs unions of the European Union while the rest of the UK including England, Scotland and Wales could leave the economic bloc. This measure would prevent a hard border between the Republic of Ireland and Northern Ireland. European Union had offered the Ireland-only backstop before, but the Northern Ireland unionist party rejected it. The report also stated that the Northern Ireland Assembly could have a say in leaving the Brexit backstop by the European Union. After this news, the Pound rose across the board and made the prices of GBP/USD to move upward. Another reason behind the upward movement of GBP/USD was the weak Manufacturing PMI release from the United States. The data showed that PMI has dropped to 47.8 points against 49.1 expectations. Also, the weak PMI made Dollar prices to fell on Tuesday amid the risks of the US falling in a recession. When the Manufacturing PMI from all over the world has shown disappointing results, the release of Manufacturing PMI from the United Kingdom at 13:30 GMT, was the only one that came in favor of its currency. The report came as 48.3 against 47.0 and made the GBP/USD move upward further. At 11:00 GMT, the Nationwide HPI from the United Kingdom came as -0.2 against 0.1% expected on Tuesday. Support Resistance 1.2295 1.2368 1.2263 1.2409 1.2189 1.2482 Pivot Point1.2336 GBP/USD – Daily Forecast The GBP/USD is facing stiff resistance at 1.2330 level, which is extended by the double top and bearish trendline resistance. The pair has also crossed below the 50 periods EMA on the 4-hour chart, which is suggesting odds of a bearish reversal in the GBP/USD. On the lower side, the immediate target is likely to be 1.2230, whereas the bullish breakout can lead the cable towards 1.2370. The bearish bias remains stronger today. All the best for today.

On Monday, China warned the Trump administration against such actions because they could affect the upcoming high-level trade talks in Washington between US-China Officials. In response, Peter Navaro, White House trade adviser, dismissed the reports and said that they are "fake news. The U.S. Dollar Index rose and placed a 4-weeks high on Monday and moved to 99.113. The robust U.S. Dollar made Gold prices to fall below $1500 and set a 2-months low of $1464. Today, all eyes stay on the RBA Cash Rate as the Reserve Bank of Australia's governor, Philip Lowe is very likely to cut the interest rates from 1.00% to 0.75%. Lately, the Reserve Bank of Australia's governor, Philip Lowe, provided confusing directions about the policy. By the time of writing this, the RBA has already cut the interest rate to 0.75% from 1%; the Aussie is still supported as investors have already priced in 25 base point rate cut.   Bitcoin price action continued mostly stable over the weekend session. The ballooning selling activities thwarted an attempt to break above $8,400. At the same time, the falls beneath $8,000 were defended above $7,900. The Bitcoin has already placed a high of $8,066, following an opening of $8,052. The hourly chart displays the price over the descending trendline resistance. Nevertheless, the immediate bullish trend is capped by moving average resistance. The 50 SMA is limiting bullish trend at $8,510, and the 100 SMA currently stands in the way at $8,736. The relative strength index (RSI) is crumbling lower following dismissal from the 50's range. Support Resistance 7,727.14 8,447.94 7,372.57 8,814.17 6,651.77 9,534.97 Pivot Point 8,093.37 The BTC/USD has violated the immediate resistance level of 8330 today, and now it seems to head towards the next target level of 8580. Above this, the pair may find resistance at 8745. On the lower side, 8330 is likely to work as a support today. The EUR/USD opened at 1.08991 after placing a low of 1.08846 a 2-year low. The overall trend of EUR/USD was bearish on Monday. After the release of German Inflation data on Monday, the EUR/USD dropped to its lowest level since May 2017. The Headline German CPI dropped to 0.9% in September backed up by the ECB decision to ease monetary policy earlier in a month. On the other hand, the German Unemployment was in support of Euro which came as -10K against 5K expected at 12:55 GMT. Other European economic releases had a mixed effect on the Euro. At midnight, the Spanish Flash CPI came as 0.1% against 0.3% expected along with the Italian Prelim CPI came as -0.5% against -0.3% expected at 14:00 GMT, was not in support of Euro. However, at 13:00 GMT, the Italian Monthly Unemployment Rate came as 9.5% against 9.9% expected, was in favor of Euro along with the Unemployment Rate 7.4% against 7.5% expected. Despite the disappointing German CPI, Euro was already under pressure from the last week's resignation of Sabine Lautenschlaeger from the executive board of European Central Bank in the act of protest, against the decision of reviving quantitative easing and loose monetary policy by ECB's President Mario Draghi. High U.S. Treasury Yields are continuously in favor of the U.S. Dollar against Euro, and the pair EUR/USD seemed to have a hard time recovering in such circumstances. Furthermore, the fact that Germany is moving towards recession while Italy is already there is also a reason behind the downward trend of Euro. Support Resistance 1.0895 1.0954 1.0872 1.099 1.0814 1.1049 Pivot Point 1.0931 The EUR/USD is trading sharply bearish over the stronger dollar and has already violated the support zone of 1.0940. Below this, the EUR/USD can keep it's bearish bias and can lead EUR/USD prices towards 1.0835 today. GBP/USD closed at 1.22865 after pacing a high of 1.23459. GBP/USD gained in early trade session, but after the economic releases from the United Kingdom, the pair started to fell and placed a low of 1.22752. On Monday, UK Finance Minister, Sajid Javid said the similar words to British Prime Minister, Boris Johnson that, the United Kingdom would leave European Union at the stated deadline with or without any deal. These words were against the law which was passed to request for an extension in the period in case of no-deal settlement by the end of E.U. summit. This law was created to avoid a no-deal Brexit. Still, these statements raised the question on ways through which No-Deal Brexit would get accomplished if needed because the only way for such a scenario is a vote by Parliament in favor of No-Deal Brexit, which is highly unlikely. Javid, along with Johnson, failed to give the details about this possible way but they gave a hint that there might be another way for that. Johnson has also not provided a solution for the settlement of disagreement on Irish Backstop yet. When court passed the law last week, investors started to buy Sterling in hopes of fewer chances of no-deal Brexit. If the opportunities again come under attraction, the GBP/USD pair is likely to come under pressure. However, the statement about a proper way for No-Deal Brexit could shatter GBP. On the other hand, the Current Account Release from United Kingdom at 13:30 GMT came as -25.2B against -19.2B and weakened the Pound. All the economic releases from the U.K. on Monday gave negative or null impact on sterling. Most data came as expected, which included Final GDP, M4 Money Supply, Mortgage Approvals, and Revised Business Investments. However, Net Lending to Individuals dropped to 4.8B in September as compared to 5.5B in August, was also not in favor of Sterling. Support Resistance 1.2295 1.2368 1.2263 1.2409 1.2189 1.2482 Pivot Point1.2336 GBP/USD – Daily Forecast Recalling the previous update, the GBP/USD has crossed below 38.2% Fibonacci retracement level of 1.2340, and currently, it's holding below this level at 1.2280. The cable can further drop lower towards the 50% Fibo levels at 1.2270, and it's right on the spot. Today 1.2270 is a basic level, and below this, the GBP/USD may trade bearish until 61.8% Fibonacci retracement level of 1.2195. All the best for today.