GBPUSD rose in its recent intraday trading, after series of downside moves to look for a higher low to use it as a base to help it gain the required positive momentum for its recovery, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line for this path, besides the continuation of the positive pressure due to its trading above EMA50, which represents a dynamic support that reinforces the chances of near term recovery, especially with the emergence of the positive signals from the relative strength indicators after reaching oversold levels.
Bitcoin (BTCUSD) rose in its latest intraday trading, continuing to pressure the key resistance level at $64,500 in an attempt to break above it and pave the way for higher price targets, while the price remains aligned with a short-term ascending trendline.
The price continues to receive strong technical support from trading above EMA50, which acts as dynamic support. Meanwhile, the relative strength indicators started to generate a bullish crossover after easing from overbought territory, opening the way to extend its gains in the near term, if resistance is decisively breached and held.
Crude Oil extended its strong gains in its latest intraday trading, with the short-term corrective uptrend remaining in control. The price continues to trade along a supportive trendline and above EMA50, which maintains its role as dynamic support and reinforces bullish momentum.
Despite the positive outlook, the relative strength indicators started to issue warning signals, with a bearish crossover emerging after reaching deeply overbought levels, which might limit the strength and speed of the rise in the near upcoming period, opening the way for sideways moves or temporary profit- taking before resuming the bullish trend.
Silver rose in its latest intraday trading, attempting to recover some of its previous losses, however, this rebound faces strong negative pressures with the continuation of the trading below EMA50, which acts as dynamic resistance amid the dominance of the main bearish trend on the short-term basis and the trading alongside minor supportive trend line.
The relative strength indicators begin to send cautious signals after reaching overbought levels, with the emergence of negative crossover that suggest forming a negative divergence, which increase the likelihoods of the selling pressures return and resuming the bearish trend in the near upcoming period, unless it manages to breach the current technical resistance levels.