The GBPUSD pair fell in intraday trading and breached the support of a negative technical pattern that's forming in the short term, the Rising Wedge pattern, while also trespassing the support of the 50-candle SMA, thus heaping more pressure on the price, amid negative signals streaming out of the Stochastic.

Even as copper prices try to hold their ground above the $5.00 barrier yesterday, a host of negative factors are emerging, as the Stochastic exited overbought levels, while $5.1700 is forming as an important barrier, thus curbing gains.

The price will likely engage in sidewaya trading, while a drop below $5.00 would activate the negative correctional path towards $4.8900, however, a resumption of gain requires a breach of $5.1700.

Expected trading range today is between $4.9000 and $5.1100.

Today’s price forecast: Correctional bearish

Bitcoin price edged higher in intraday trading after leaning on the support of the 50-candle SMA, lending the price some positive momentum, especially as it trades alongside the upward correctional trend line in the short term, with the Stochastic reaching oversold levels compared to the price’s movements. 

Brent crude price kept rising in the intraday levels, boosted by trading above the 50-candle SMA, while moving within an ascending correctional price channel in the short term, with the price about to touch its resistance, coinciding with the Stochastic reaching overbought levels.