The GBP/USD pair fell from its resistance zone on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 10th of September. The pair has broken its upward channel to the upside. Moreover, the pair is also trading above the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bulls are in strong control.
Apple fell from its resistance zone on a 30 minute time frame. This resistance zone does have significant importance as there was a huge imbalance in the price and hence it fell sharply with a gap down from this zone. Apple is also trading in a bearish wedge pattern which by the yellow lines and its shows that the price may break this wedge to the downside, as there is more consolidation of price near the bottom line of this wedge. Moreover, the price has already broken the upward trend line, which further confirms that the bias could be to the downside.
Investors taking cues from the US and Asian trading session while the UK employment rate and Italian bond Yield in Focus
r European markets taking their cues from US and Asian trading session The European markets are trading higher during the early hours of trading, as traders took their cues from the positive finish on Wall Street last night and Asian markets built further gains for another day. As the economic calendar for the US market…