Supoprt
GBPUSD 1.2200 breakdownThe British pound is back under selling pressure against the US dollar as the chances of a hard-Brexit scenario appear to have increased. A sustained break below the 1.2200 support level could trigger a major technical sell-off in the GBPUSD pair, with the yearly trading low the initial target. Overall, moves back towards the 1.2275 level are likely to be met with strong counter selling.
• The GBPUSD pair is only bearish while trading below the 1.2275 level, key support is found at the 1.2200 and 1.2100 levels.
• If the GBPUSD pair trades above the 1.2200 level, key resistance is found at the 1.2250 and 1.2275 levels.
GBPUSD STRONGLY BEARISH BELOW 1.2863The British pound continues to drift lower against the US dollar in early Tuesday trade, as fears over a Brexit no-deal weigh on sterlings intraday sentiment. The GBPUSD pair is likely to weaken further while trading below the 1.2863 technical level, as it represents the start of last weeks spike higher. Traders now look to the release of the United Kingdom’s Construction PMI.
The GBPUSD pair is strongly bearish while trading below the 1.2863 level, key support is found at the 1.2810 and 1.2775 levels.
If the GBPUSD pair moves above the 1.2863 level, price may correct back towards the 1.2900 and 1.2930 levels.
LTCUSD ONLY INTRADAY BULLISH ABOVE $85Litecoin is starting to consolidate around the $83.50 level in early Thursday trading, after multiple technical rejections from the key $85 resistance area.
The intraday sentiment towards the LTCUSD pair is starting to turn bearish, after price created a bearish double-top pattern.
Sellers will now try to break the $81 support level, while buyers will look to move price above the $85 resistance level once again.
The LTCUSD pair is only intraday bullish while trading above the $85 level, further upside towards the $87 and $88 levels remains possible.
If the LTCUSD pair moves below the $81 level, price may start to move back towards the $79.70 and $77 support levels.
