Home Analysis British pound dips as dollar roars

British pound dips as dollar roars

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British pound dips as dollar roars - forexspacex.com

The overall bearish bias continues to persist in Bitcoin as investors bet against riskier assets ahead of the rate hike announcement. Bitcoin fell over 11% against the US dollar in the past week and is trading lower by 4% on Monday morning. According to crypto pundits, a sharp correction in Bitcoin was expected and we may see the price accelerating towards the major psychological support level of $18,000 zone. The prospect of an aggressive interest rate hike will continue to favor the dollar in the short term. One can expect high volatility to sustain till Wednesday and then any meaningful pullback.

Relevant pivot points

NameS3S2S1Pivot PointsR1R2R3
Classic1.13311.13431.13621.13741.13921.14051.1423
Fibonacci1.13431.13551.13621.13741.13861.13931.1405
Camarilla1.13701.13731.13761.13741.13811.13841.1387
Woodie’s1.13331.13441.13641.13751.13941.14061.1425
DeMark’s1.13671.13771.1398 

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