MarketBreakdown | GBPUSD, USDCHF, BITCOIN, S&P500
Updated
Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ GBPUSD - Weekly time frame 🇬🇧 🇺🇸
The pair keeps falling. It looks like the price violated 1.267 key weekly structure support.
Analyzing the historical levels, it looks like the pair can easily go much lower.
The next support on focus - 1.225 structure.
2️⃣ USDCHF - Monthly time frame 🇺🇸🇨🇭
The price has recently broken 0.947 major structure resistance.
Now I expect a further bullish continuation to 0.975
3️⃣ Bitcoin - 3 days time frame ₿
BTCUSD is approaching strong daily structure support.
Taking into consideration that we still remain bullish biased,
I would expect a bullish move from 37.000 - 37.600 area.
4️⃣ S&P500 Index - Daily time frame 📈
SPY is approaching year's low.
Taking into consideration that the market is quite oversold,
I expect a pullback.
However, be prepared for a breakout attempt.
Bearish violation of the underlined zone may trigger a further bearish continuation.
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