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FxWirePro: BTC/GBP upside capped by 10-DMA, break below 50-DMA to see minor bearishness

BTC/GBP is trading in a narrow range on Wednesday, as it failed to close above 10-DMA on April 18. It is currently trading at 931 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 954

Kijun Sen: 850.50

The pair broke above 10-DMA on Tuesday but failed to hold its strength and closed below with an inverted hammer formation.

The pair has taken strong support near 925.52 (50-DMA) and any violation would see a dip till 903.67 (55-EMA)/ 878 (February 24 low).

On the upside, further bullishness could be confirmed only if the pair closes above 949.70 (10-DMA), which would then target 976 (trend line joining 1085 and 995)/ 995 (April 12 high).

Momentum studies have turned bearish: RSI is holding slightly above 50, bias lower; stochs are biased lower; and MACD line below signal line.

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October 24 09:00 UTC Released

EZMarkit Comp Flash PMI

Actual

55.9 bln EUR

Forecast

56.5 bln EUR

Previous

56.7 bln EUR

October 24 09:00 UTC Released

EZMarkit Serv Flash PMI

Actual

54.9 bln EUR

Forecast

55.6 bln EUR

Previous

55.8 bln EUR

October 24 12:55 UTC 219219m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 219219m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 12:55 UTC 219219m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 219219m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 13:00 UTC 224224m

MXFlash Trd Bal Non-EU*

Actual

Forecast

Previous

-0.7 Bln EUR

October 24 13:00 UTC 224224m

MX1st Half-Mth Infl YY*

Actual

Forecast

Previous

1.00 %

October 24 13:00 UTC 224224m

USIGAE Econ Activity MM

Actual

Forecast

Previous

-0.7 %

October 24 13:00 UTC 224224m

MXIGAE Econ Activity YY

Actual

Forecast

1.50 %

Previous

1.00 %

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