The GBPJPY pair formed a new bullish rally yesterday, benefiting from the continuation of providing positive momentum by the main indicators, to surpass %38.2 Fibonacci correction level at 218.55, which formed the main target in the previous report, to open the way for recording extra gains by reaching 219.30 level.

We will depend on forming extra support at 218.55 level, to reinforce the chances of forming new bullish waves, targeting the bullish channel’s resistance at 220.00, and surpassing it will form the next main target at 220.45 level in the current trading.

The expected trading range for today is between 218.80 and 220.00

Trend forecast: Bullish

Platinum price faced positive pressures due to stochastic approach from 80 level, pushing it to form some bullish trading, to test the initial barrier near $1690.00 to settle below it.

The stability of the trading below the current barrier might make the price begin forming bearish waves, to attempt to reach $1610.00, and providing negative momentum might extend the trading towards $1570.00, while breaching the barrier will reinforce the chances of recording extra gains by its rally towards $1730.00 directly reaching the main barrier near $1755.00.

The expected trading range for today is between $1610.00 and $1670.00

Trend forecast: Bearish

Copper price continued forming bullish trading, as the negative pressure repeated at $6.3000, attempting to find a chance for recording extra gains in the near period, and the price needs to provide a new close above the current barrier, to reinforce the chances of forming a new bullish rally, to expect reaching $6.4800 followed by $6.5400.

Note that the main indicators will support the bullish scenario in the current trading, to keep waiting for recording the previously suggested expected gains, while the risk of the price return to the bearish corrective trend requires a sharp decline, to settle below $5.9500 level.

The expected trading range for today is between $6.2500 and $4.4800

Trend forecast: Bullish

(ETHUSD) declined in its latest intraday levels, affected by the stability of the resistance at $1,935, which represents our last expected targets in our previous analysis, to gather its previous rises, attempting to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from them, amid the continuation of the dynamic support that is represented by its trading above EMA50, which reinforces the stability and dominance of the main bullish trend on the short-term basis.