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A bunch of risk assets just pulled up from short-term swing lows!

Can GBP/JPY and XRP/USD extend their gains?

Check out their latest charts!

XRP/USD: 1-hour

XRP/USD 1-hour Chart

XRP/USD 1-hour Chart

I don’t know if you noticed but XRP/USD broke a weeks-long trend line support earlier this week.

The crypto pair has since bounced from its .4200 support, however.

Unfortunately for the bulls, XRP is also having trouble making new highs above .4550, which lines up with the (a) broken trend line support, (b) 50% Fibonacci retracement of this week’s downswing, and (c) a retest of a trend line resistance.

It also doesn’t help that the 100 and 200 SMAs are just above current prices and that the 100 SMA looks ready and willing to cross below the 200 SMA as soon as we see more red candlesticks.

And then there’s the bearish divergence on the 1-hour time frame.

Look out for momentum below .4400, which could take XRP/USD back to its .4200 lows or even the .4000 psychological handle!

GBP/JPY: 4-hour

GBP/JPY 4-hour Forex Chart

GBP/JPY 4-hour Forex Chart

Where my GBP traders at?

Just when we thought that Monday’s rejection at 157.00 would mean new 2022 lows for GBP/JPY, the bulls stepped in and pushed Guppy from 154.00 all the way to the 157.00 resistance.

Can GBP buyers push GBP/JPY above 157.00 this time?

Stochastic is on the bears’ side with an overbought signal while the major area of interest can also attract a lot of long-term sellers.

Sustained GBP selling can lead to a retest of the 154.00 support or even a revisit of the 149.50 September lows.

A clear break above 157.00, however, may attract enough GBP bears to push GBP/JPY to areas of interest like 159.00 and 160.00.