GBP/USD- Bounced from Support zone- What now!

 

The GBP/USD pair bounced from its support zone a 30 minute time frame as predicted. This support zone was given in our analysis on 28th of August.  However, the price is trading below the downward trend line and broken this line only for a brief moment before the bears have pushed the price back down again. Moreover, the GBP/USD  is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bears in full control.

USD/JPY- Bounced from its support as predicted

 

The USD/JPY pair has bounced from its support zone on a 30 minute time frame as predicted. This support zone was given in our analysis on 26th of August. The price has broken the upward channel which confirms that the upward trend has become weaker. Moreover, the price is trading below the 50 day (shown in green) but above the 100 day (shown in yellow) moving averages which is a further confirmation of the above argument. The volatility for the pair remains low as the price is trading within the Bollinger band and close to its 20 day moving averages.