Market Analysis
GBP/USD midweek: cable holding 1.3390 as traders remain split, 2026-06-08
Sterling trades up 59 pips from Monday's open at 1.3394, with positioning near perfectly balanced at Wednesday's close.
2 min leesEthereum closed Wednesday's session at $1624.82, down $62.17 or 3.7% from Monday's open at $1686.99. The week's range spans from a high of $1710.91 on Monday to a low of $1610.67 on Tuesday.
Tuesday's sharp selloff took ETHUSD from $1686.69 to $1636.30, a $50.39 drop that breached the psychological $1650 support. The move coincided with broader tech sector weakness as noted in Monday's market wrap, with crypto following traditional risk assets lower.
The back half of the week shows no scheduled economic events in the data bundle. Without macro catalysts, ETHUSD will likely track broader crypto market sentiment and any shifts in risk appetite through Friday's close.
Current positioning shows 61.1% of traders long and 38.9% short as of Wednesday morning. The bullish skew persists despite this week's 3.7% decline, suggesting traders view the $1610-1625 zone as a buying opportunity rather than the start of a deeper correction.
ETHUSD is testing the week's low zone between $1610.67 and $1612.70. If this support holds through Wednesday's full session, the $1650 round number becomes the first resistance. A break below $1610 opens the door to test lower levels. Bitcoin's direction will likely dictate which scenario plays out. Trade ETHUSD with LHFX's tight crypto spreads and deep liquidity.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
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LHFX is 'n handelsnaam van Longhorn Ltd, 'n Mauritiuse maatskappy gemagtig en gereguleer deur die Financial Services Commission Mauritius onder die Investment Dealer-lisensienommer GB23202204, Kode SEC-2.1B. Kantooradres: Suite 102, 1ste Verdieping, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius. GBC-nommer C200455
LHFX SA (PTY) Ltd is 'n gemagtigde Finansiëlediensverskaffer ("FSP") geregistreer en gereguleer deur die Finansiële Sektor Gedragsowerheid ("FSCA") van Suid-Afrika onder lisensienommer 52816. Geregistreerde adres: 1 Hood Avenue Rosebank Johannesburg Gauteng 2196
Longhorn Ltd bied nie Fiat-wisselkursdienste of Kriptogeldwisselkursdienste aan nie.
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RISIKAWAARSKUWING
Margehandel in buitelandse valuta, virtuele bates of ander buite-beurs-produkte op marge dra 'n hoë vlak van risiko en is moontlik nie vir almal geskik nie. Ons adviseer u om noukeurig te oorweeg of handel vir u gepas is in die lig van u persoonlike omstandighede.
CFD's is komplekse instrumente en dra 'n hoë risiko van geldverlies as gevolg van hefboom. Oorweeg of u verstaan hoe CFD's werk en of u die hoë risiko van geldverlies kan bekostig.
Belasting mag betaalbaar wees op enige winste en u behoort onafhanklike advies oor u belastingposisie in te win.