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FxWirePro: BTC/GBP hovers around 50-DMA, close below targets 830

BTC/GBP moved further south on Friday and has broken below the 900 mark. It is currently trading at 897 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 947.50

Kijun Sen: 947.50

Momentum studies have turned bearish: RSI (14) is at 42, bias lower and the MACD line is below the signal line.

On the upside, resistance is seen at 936 (January 04 high) and a break above would see it testing 991 (20-DMA)/1038 (March 14 high).

On the flipside, the pair is currently hovering near 888 levels (50-DMA) and a close below would drag it to 832.61 (90-EMA)/795.16 (61.8% retracement of 616 and 1085).

CoinDesk reported that the recent plunge comes as bitcoin continues to face technical challenges – the ongoing scaling debate has not been able to develop a consensus so far. Also, the call for a hard fork has been increasing.

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March 27 08:00 UTC Released

DEIfo Expectations*

Actual

105.7

Forecast

104.3

Previous

104.0

March 27 08:00 UTC Released

DEIfo Business Climate*

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112.3 %

Forecast

111.0 %

Previous

111.0 %

March 27 11:30 UTC 4747m

TRLoans to Non-Fin

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75.4 %

March 27 11:30 UTC 4747m

MXManufacturing Confidence*

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105.3 %

March 27 11:30 UTC 4747m

TRManufacturing Confidence*

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105.3 %

March 27 13:00 UTC 137137m

MXManufacturing Confidence*

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2.10 %

March 27 13:00 UTC 137137m

MXIGAE Econ Activity MM

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-3.294 %

March 27 13:00 UTC 137137m

MXIGAE Econ Activity MM

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0.40 %

March 27 13:00 UTC 137137m

KRTrade Balance SA*

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Forecast

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-0.783 bln $

March 27 13:00 UTC 137137m

MXIGAE Econ Activity MM

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Forecast

Previous

0.40 %

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