EUR/GBP: Short-Term Sell
EUR/GBP, 4-Hour Chart Analysis
The Euro remains under pressure, as the worries regarding the French elections continue to weigh on the common currency. The Pound has recovered well against its major peers after the recent correction, despite the slew of negative economic news regarding the British economy last week.
The pair is in a clear short-term downtrend with a strong overhead resistance zone near 0.86. The 0.8465 and 0.8420 levels provide short-term support for the cross. Trend-line resistance is right at the current rate, with the lower boundary of the channel pointing to a re-test 0f the 0.84 level.
Bitcoin: Long-Term Buy (Update)
Bitcoin, 4-Hour Chart Analysis
The continued bullish price action of Bitcoin justified another lift of the stop-loss level of our long-term buy recommendation. The current stop loss level is just below the $1100 level, while our initial target is still ahead at $1290. A breakout to new highs could open up the road to $1500 for the cryptocurrency.
The MACD is still slightly bearish, as the momentum of the advance remains weak. Below the $1100 level, further support is sound near $1070, while the “last-resort” support zone is between $950 and $1000, in the form of the lower boundary of the long-term trend channel.