October 25, 2020

GBPUSD, EURUSD, DXY and BTCUSD. Pound "fizzles out", the euro still retains strength

Good afternoon dear friends!

Today, I have prepared several forecasts for you on such trading Instruments like GBPUSD, EURUSD, DXY and BTCUSD.

GBPUSD

Let's look at the situation on GBPUSD. As you can see in the chart, the price is now in a strong resistance zone, which is formed by a strong resistance level of 1.278 and an inclined resistance line.

I think that it is unlikely that it will be possible to pass this resistance zone from a swoop on the bulls. Therefore, I predict that the price will fall from this resistance zone to the support level of 1.258.

GBPUSD, EURUSD, DXY and BTCUSD. Pound "fizzles out", the euro still retains strength

EURUSD

As for EURUSD, the pair has reached our previous goal, namely, the resistance level of 1.1066.

The price, however, continues to be in a small growing channel.

Therefore, I predict that now EURUSD may fall to the support line of the growing channel. And after that, I expect that there will be an increase to the resistance line at about 1.11

GBPUSD, EURUSD, DXY and BTCUSD. Pound "fizzles out", the euro still retains strength

Dxy

</strong>The dollar index approached a strong support zone,formed by a strong support level of 98.1 and an inclined support line. The price has repeatedly reached this level and there have even been several false breakdowns.

Nevertheless, I believe that now the price will not be able to overcome it and I expect growth from this support zone to the level of 98.7

GBPUSD, EURUSD, DXY and BTCUSD. Pound "fizzles out", the euro still retains strength

BTCUSD

And finally, Bitcoin, which began to fall again.

The downward trend is still maintained. This means that at the moment it is best to look for sales.

I expect that BTCUSD will be able to grow a little to the resistance level of 8241. And from there, I predict that the price will go down, approximately to the support level of 7770.

Pay attention to the support line.

GBPUSD, EURUSD, DXY and BTCUSD. Pound "fizzles out", the euro still retains strength

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And for today, dear friends, that’s it!

Good trading and profit to all!