Bullish Asian Markets as Trump Signals a Restart to Trade Talks

Bitcoin was up about 0.64% today, recovering yesterday’s nearly 0.30% fall, to close the day at about $6,333.3.

A sideway and choppy morning found the popular coin (Bitcoin) retracing back from the start of a day’s high of $6,280 to late morning intraday low of $6,202.7.Then it found support and the price moved through the first part of the day didn’t give the chance for the major support and resistance levels to retest.

Continuing through the late morning, Bitcoin recovered the morning losses, and going through to a late afternoon intraday high of $6,354. Following recent trends late in the day, the popular coin managed to hold on to about $6,300 levels all day, with no important fundamental news and that did not cause investors to jump ahead of today’s EU Finance Ministers meeting. The meeting agenda has cryptocurrencies high on the list of the important topics to be discussed.

GBP did not change and trades on the downside at around 1.3000 while waiting for the BOE expecting to leave the Bank rate on hold at 0.75%. The Brexit is currently in focus again and is probably the main driver that moves the market with the EU positively willing to make changes to the current protocol on the Irish border. That will help the cable to stabilize above the level of 1.3000.

The Bank of England decision is due for 11:00 GMT and there is no press conference of the Bank officials to follow. Now on a more technical view, the pair today managed to retrace from a key support that includes a 100-hour SMA and a short-term bullish trend-line. The support is currently near the very important 1.30 psychological level and that might continue to support the short term downside. If that breaks it might give some bearish sentiment and drag the pair back towards the 1.2900 handle.