The Euro waits the resolution of the ECB
Bitcoin has been quite non-volatile, trading with a bearish bias recently which is expected to continue further in the coming days. The market is currently getting into equilibrium and expected to range between $8,000 to $12,000 before any definite trend takes over. As the price remains below $11,000 price area, the bearish bias is expected to continue.
GBP/USD has been quite non-volatile with the gains recently which made the price break above the 1.3950 resistance area. Today, GBP had been solid in light with economic reports which led the price to be more impulsive with its gains. As the price remains above 1.3850, the bullish bias is expected to continue.
Pennant formation in creation. My advice is to watch for a potential breakout to confirm downward movement. The first downward target is set at the price of $1,322.75.
New IMF outlook for the global financial markets.
USD/JPY has been struggling below 111.00 recently which is currently expected to push lower with the target towards 109.20 support area in the coming days. JPY having unchanged BOJ Policy Rate report dominated USD quite well. As the price remains below 111.00 the bearish bias is expected to continue further.
In November, evident bullish recovery was manifested around the price zone of 1.1520-1.1415. This hindered further bearish decline which allowed the current bullish pullback to occur towards the price level of 1.2100 which failed to pause the ongoing bullish momentum as well. Daily persistence above 1.2150-1.2200 confirms a bullish flag continuation pattern with projected targets towards 1.2500.
The GBP/JPY pair is still gaining momentum. The bullish bias is confirmed by rallying towards 155.33 level recently
The current bullish movement extended towards the price levels of 0.7320 and probably 0.7390. A quick bullish movement is expected towards the depicted supply zone (0.7320-0.7390) where price action should be watched for evident bearish rejection and a valid SELL entry. Conservative traders should be looking for a valid SELL entry anywhere around the depicted supply zone (0.7320-0.7390).