Bitcoin set an all-time high while the U.S. dollar remained lower.
The British pound corrected gains until 1.3742 after U.K. inflation figures didn’t surprise to the upside but sterling was able to recoup previous losses towards the end of the day. High price pressures remain however a problem and investors brace for upcoming Bank of England rate hikes. As long as the GBP/USD remains above 1.37 we pencil in higher targets until 1.39.
The EUR/USD stabilized above 1.16 and bulls may sense the chance of a next leg up toward 1.17. A potential test of 1.17 could be in the cards provided that the euro holds above 1.1640.
DAX- Time for a breakout?
The index recently consolidated between 15600 and 15400 and we now see chances of upcoming price breakouts. A new rise above 15560 could spur bullish momentum towards 15600 and may lead to a break of the October high at 15633. Above 15630 we see chances of a run for 16000. On the downside and below 15480, the index could fall toward 15380. Below 15300 we expect further losses 15000.
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