GBPUSD rose its last intraday trading, taking advantage of its lean on EMA50, accompanied by leaning on bullish corrective trend line on the short-term basis, which led to gain new bullish momentum that helped it to recover and rise again, after testing 1.3195 key support, besides the emergence of positive signals on the relative strength indicators, supporting the scenario of reinforcing the gains in the upcoming period.
Bitcoin settled on strong gains in its last intraday trading, taking advantage of the bullish momentum that comes from its trading above EMA50, breaching a main bearish trend line on the short-term basis, supporting the extension of the bullish corrective wave and opens the way for extra attempts to target more resistance levels.
The relative strength indicators reach overbought levels, which might limit the price ability to achieve new gains unless it surpasses its near critical resistance, the continuation of the bullish momentum depends on the availability of extra buying power that is able to breach these levels and cancel any potential corrective pressures.
Crude oil declined in recent intraday trading, affected by its movement alongside a minor bearish trend line on the short-term basis, indicating continued negative technical pressures, impacted by the previously formed rising wedge pattern, considered a reversal signal showing weakening bullish momentum and higher chances for an extended bearish wave, accompanied by ongoing negative signals on relative strength indicators.
This weak performance appears with the price remaining below EMA50, indicating the absence of dynamic support to strengthen near-term recovery chances, confirming the persistence of these pressures. However, crude oil may struggle to return to the bullish track unless it regains clear buying strength.
Gold achieved a clear improvement in recent intraday trading, preparing to reach the key resistance at $4,225, supported by the emergence of clear positive signals on the relative strength indicators, after forming positive divergence that show an improvement in the buying power, reinforcing the chances of the bullish momentum continuation.
Gold leans on strong dynamic support that is represented by its trading above EMA50, besides the dominance of the main bullish trend on the short-term basis, with its continuous trading alongside supportive trend line for this trend, these factors provides solid base that may help it target new resistance levels on the near-term basis.