Today, the UK parliament starts the debate on Boris Johnson's Brexit paper. What are the likely consequences for the GBP?
- After several days of consolidation, Bitcoin has started to fall down this week. The digital currency bounced from the $11,560 level and moved below the 50-day SMA. The further downward movement was limited by the $10,060 support level. Bears tried to pull the grandad of crypto lower on Thursday but failed to stick near the 100-day SMA, as bulls took over the market and pushed the price back above the $10,060 level. If bears make another attempt to break the support at $10,060 level, the next key level will lie at $9,857. After that, pay attention to the $9,488 level below the 100-day SMA.
- Litecoin has been falling, too. The digital silver has crossed the 200-day SMA on Wednesday and inched lower. On Friday, it has tested the support at $71,66. If this level is broken, the next support will lie at $67.71. In case of the breakout of that level, the further fall will be limited by the support at $60.58. Technically, RSI lies close to the oversold border, if it leaves this zone, it may provide a buying opportunity. Also, the Stochastic indicator is about to form a crossover there. This may be another sign of positive momentum.
- Ethereum has crossed the 200-period SMA, but bears faced the support at $181.47. If they succeed to break this level, the next support will lie at $170.94. From the upside, bulls need to break the $188 level to rise further towards the $200 level. After that, pay attention to the resistance at $215.17.
- DASH fell below its key support levels during this week and has been targeting the support at $87.5 on Friday. If this level is broken, the next support will lie at $82.45. Otherwise, pay attention to the breakout of the $93.45 level. The next key level will lie at $101.8. If we look at MACD, we can see a bullish divergence here. This may be a sign of a possible reversal.
The RBA will make a rate statement on August 4 at 7:30 MT time.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.