News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/hqW38VawJl
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
Bitcoin, Ethereum Plunge; Technical Support Levels Breached

Bitcoin, Ethereum Plunge; Technical Support Levels Breached

Nick Cawley, Strategist

Talking Points

- Bitcoin (BTC) and Ethereum (ETH) register double-digit losses, Litecoin (LTC) slumps 20%

- BTC China announces it will stop all trading on September 30.

The DailyFX Bitcoin Glossary is designed to provide traders with a reference for important terms and concepts essential for understanding the emerging cryptocurrency universe.

Bitcoin, Ethereum, Litecoin – The Crash Continues

The graphs below highlight this week’s heavy selling pressure in the crypto-currency market. After the slew of bad news at the start of the week – we highlighted all the negative impulses at our weekly Bitcoin Webinar – the market continues to drop, falling through technical support levels with ease. Fibonacci support for BTC at $3780 provided no support at all and the digital coin now nears the 61.8% retracement level at $3407.

Chart: Bitcoin (BTC) Price Daily Timeframe (March 15 – September 14, 2017)

Bitcoin, Ethereum Plunge; Technical Support Levels Breached

Likewise, ETH dropped through the 50% Fibonacci level at $273 and is currently below the 0.38% retracement level at $241. DailyFX currency analyst Michael Boutros recently highlighted ETH downside support levels, warning that the risk remains lower.

Chart: Ether (ETH) Price Daily Timeframe (March 15 – September 14, 2017)

Bitcoin, Ethereum Plunge; Technical Support Levels Breached

I will be discussing all things Bitcoin and Ether every Wednesday at 12:00 pm – if you would like to join me, please click here.

Chinese Exchange to Close on September 30

Following on from news last week that the Chinese authorities were banning Chinese companies from raising money via ICOs, and looking at 60 ICO exchanges, one of the largest Asian exchanges, BTC China tweeted today that it would stop all trading on September 30 on regulatory concerns.

Losses were seen across the board during the ongoing sell-off, with the total crypto-currency market valuation falling to $117.5 billion from a record high of $177 billion at the start of September – a precipitous 33% drop in less than two weeks.

Market Moves/Top 8 Capitalizations – September 08, 2017

Bitcoin, Ethereum Plunge; Technical Support Levels Breached

If you are interested in trading digital pairs and would like to practice trading either BTC or ETH, you can create a Quick and Free Demo Account Here

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES