Monday, June 11, 2018

CryptoCurrency News: UK's Financial Watchdog Issues Letter to Banks on Crypto Risks

The U.K.'s Financial Conduct Authority has written to bank CEOs over the risks of "facilitating financial crimes which are enabled by cryptoassets."

via CoinDesk

CryptoCurrency News: LA Bitcoin Trader Faces 30 Months in Jail for Illegal Money Business

A 50-year-old woman, who traded bitcoin as "Bitcoin Maven," faces 2.5 years in jail for having run an illegal money transmitting business.

via CoinDesk

CryptoCurrency News: What Would Happen to Crypto In a Global Market Meltdown?

CoinDesk advisory board director Michael Casey takes a look at the state of investor psychology as it relates to the crypto markets today.

via CoinDesk

CryptoCurrency News: Swiss City Plans Blockchain Voting Pilot Using Ethereum-Based IDs

The Swiss City of Zug is launching a pilot that will allow residents to vote electronically, with both polling system and IDs based on blockchain.

via CoinDesk

CryptoCurrency News: CFTC Demands Crypto Exchange Data In Market Investigation

The U.S. regulator has subpoenaed four crypto exchanges to submit trading data as part of an investigation into market manipulation.

via CoinDesk

CryptoCurrency News: $6K Next? Bitcoin Bear Market Back After 10% Drop

Bitcoin's drop below $7,000 signals a resumption of the sell-off from the record highs in December, according to technical studies.

via CoinDesk

CryptoCurrency News: Lithuania Issues Guidelines for When ICO Tokens Are Securities

Lithuania's Ministry of Finance has published guidance on ICOs, outlining how different aspects of token offerings should be regulated.

via CoinDesk

CryptoCurrency News: Crypto Startup Wala Is Reaching Real Africans with Ethereum Micropayments

Wala is using microraiden for high volume, low-value transactions off-chain.

via CoinDesk

CryptoCurrency News: Coinrail Exchange Hacked, Loses Possibly $40 Million in Cryptos

South Korea-based Coinrail has not disclosed the exact amount lost in the breach, but data suggests the damage could be $40 million.

via CoinDesk

[FOREX TIP] GBPUSD Price Action Analysis – 11th June 2018

GBPUSD has been Bullish on the H4 chart. In fact, the pair has been maintaining an Up trending channel. Today’s first two H4 candles were Bullish, but did not have any significant move. However, the current H4 candle seems to be a strong Bullish one, which has been trying to make an upside breakout. If the breakout happens and the level is held, then we would get an opportunity to take a long entry later on the pair. Let us have a look at the H4 GBPUSD chart.

GBPUSD Price Action Analysis – 11th June 2018

Have a look at the current H4 candle. It has been trying to make a breakout at the level of 1.34235. If the breakout does take place and if it is held by an H4 candle, and then we should wait for an H1 Bullish candle to be formed right at the breakout level to take the long entry. Let us have a look at the summary of the trade…

  • Entry- H1 Bullish Engulfing Candle at 1.34235
  • Stop loss- Below 1.34000
  • Take profit- 1.34625
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

The GBP has a high impact news event at GMT 0930 today. That news event would create some spikes on the intraday charts. Now the thing to be watched for is whether the setup does not get ruined for the news event. Let us hope that the current H4 candle makes the breakout, but does not go too far. If it goes too far, then we might not get the things to go as we have expected here.

The post GBPUSD Price Action Analysis – 11th June 2018 appeared first on Advanced Forex Strategies.

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