Crude oil price succeeded to touch our waited target at 80.95 and attempted to breach it, to support the chances of continuing the rise and achieve additional gains on the intraday and short-term basis, reminding you that our next target reaches 82.60. while achieving it requires holding above 80.25.

The GBPUSD price broke 1.2760 level strongly to head towards expected visit to the key support line at 1.2655, making the bearish bias suggested in the upcoming sessions, being aware that it is important to monitor the price when reaching the mentioned level, as breaking it will push the price to suffer more losses and turn to decline on the intraday and short-term basis, while consolidating above it will push the price to regain the main bullish trend again.

The EURUSD price faces clear negative pressure to approach the key support 1.0860, which urges caution from the upcoming trading, as continuing the decline and breaking this level will stop the positive effect of the inverted head and shoulders’ pattern and push the price to turn to decline, to head towards visiting 1.0765 as a next negative station.

On the other hand, the consolidation above 1.0860 will keep the bullish trend scenario active, which its targets begin by breaching 1.0960 to open the way to head towards 1.1080.

Brent oil price resumes its positive trading to reach the thresholds of the first waited target at 85.50, and we suggest the continuation of the bullish bias to achieve additional gains that reach 86.74, supported by the EMA50 that carries the price from below.

Holding above 83.87 represents major condition to the continuation of the expected rise and guarantee not turning back to the sideways track again.

The expected trading range for today is between 83.10 support and 86.10 resistance.

Trend forecast: Bullish