The GBPJPY pair confirmed the bearish corrective scenario, taking advantage of the stochastic indicator’s negative momentum. It is currently moving toward the first corrective target at 211.80.

Continued trading below the 50% Fibonacci retracement level at 213.50, along with the presence of negative momentum, may push the price to extend its corrective movement, with a potential near-term target at 211.30, before attempting to pressure the key support at 210.45.

The expected trading range for today is between 210.45 and 212.90

Trend forecast: Bearish

Platinum announced the end of its upward momentum, as the formation of strong resistance at $2,190.00 has halted the bullish move. Since yesterday, it has been forming negative corrective waves and is now trading below the initial support level at $2,060.00, confirming its shift into a downward corrective scenario.

Additionally, the stochastic indicator is showing negative momentum, which may push the price to pressure the 55-day moving average located at $2,000.00. A break below this level could extend losses toward the next support at $1,950.00.

The expected trading range for today is between $1950.00 and $2080.00

Trend forecast: Bearish

Copper started activating profit-taking attempts after recently stabilizing below the 100% Fibonacci extension level at $6.5400, as it is currently drifting toward $6.3000.

We note that the formation of $6.5400 as an additional resistance level, along with the stochastic indicator showing negative momentum by exiting overbought territory, may push the price to continue corrective trading, potentially targeting $6.2400 soon, with initial support located at $6.1000.

The expected trading range for today is between $6.2400 and $6.500

Trend forecast: Bearish

Ethereum (ETHUSD) declined during recent intraday trading after facing resistance at EMA50, which forced the price to reverse lower. This comes after an earlier break below a major short-term upward trend line, reinforcing the bearish pressure on the asset.

Additional downside momentum is emerging from relative strength indicators, which are starting to turn negative after previously reaching overbought conditions, increasing the likelihood of deeper losses in the near term.