FXBrokerFeed Reports the Price Crash of Major FX and Cryptocurrency Pairs

The price of the pound sterling has crashed to a four-month low versus the US dollar. The case of cryptocurrencies were not any better with most digital assets trading in the red zone.

Ontario, Canada - March 3, 2020 /NewsNetwork/ —

FXBrokerFeed reports that the price of the pound sterling has crashed to a four-month low versus the US dollar. The case of cryptocurrencies were not any better as the market was bloody all week, with most digital assets trading in the red zone. Forex Broker comparison service, FXBrokerFeed, brings you the latest news updates and comments in the FX Broker Market, featuring GBP/USD price crashes and the bearish run of cryptocurrencies.

GBP/USD Price Crashes

FXBrokerFeed reports that the pound sterling versus the US dollar crashed to its lowest price in four months. The last week of February 2020 saw the price approaches the 1.2700 price mark.

According to a report on FXStreet, the GBP/USD pair could continue its downward trend until it reaches the 1.2657 and 1.2600 levels. FXBrokerFeed considered the chart analysis released by experts on Friday, and it revealed that the pair is trading below the 50- and 100-day SMAs.

There is also a possible reversal should the support levels at 1.2700, 1.2657, and or 1.2600 hold. That will lead to a bullish movement that will have to test the 1.2820, 1.2858, and or 1.2900 resistance levels, following analysis from the Technical Confluence Indicator.

The Bearish Run of Cryptocurrencies

FXBrokerFeed summarises that most cryptocurrency traders were cautious this week as it was yet another bloody week for digital assets. With the price of Bitcoin dropping to as low as $8,500, most altcoins were in the red zone.

The top digital assets declined in prices throughout the week but for Thursday when there was a modest bullish movement. Ethereum and Ripple bounced back by +1.58% and +1.92%, respectively.

Bitcoin could only move upward to $8,800 before its price continued crashing again. As of Friday morning, cryptocurrencies were already in the red zone again.

Traders can take advantage of FXBrokerFeed’s 30-day free trial and register here: https://fxbrokerfeed.com/register-now/.

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Source: NewsNetwork

Release ID: 88948467