The (GBPUSD) price declined in its last intraday trading, due to the stability of the resistance at 1.3185, which represents a barrier against extending the current corrective bullish wave, this decline came with the attempt of gaining bullish momentum that might allow it breach this resistance, leaning on the support of its EMA50, taking advantage of its trading alongside supportive trendline for this bullish trend.
On the other hand, the negative signals come from the relative strength indicators, indicating the weakness of the bullish momentum, this technical divergence might reduce the ability to surpass the current resistance in the near period.
Bitcoin (BTCUSD) continued its decline in its last intraday trading, breaking the support level at $93,000, which represented technical target in our previous analysis, this break reactivated the selling pressure, especially with the continuation of its trading below EMA50, which reinforces the dominance of the negative overview on a short-term basis.
Bitcoin is moving alongside main and minor trendlines, indicating the stability of the negative trend, accompanied by extra bearish signals from the relative strength indicators, that indicate recording more declines unless it manages to form a new supportive low.
Crude oil prices declined in their last intraday trading, to keep moving within tight sideways range near its EMA50, creating neutral trading area that keeps the short term trend unclear, which reflects a state of anticipation in the markets, waiting for a real motive to push it recover or resume its bearish track, to detect the next trend clearly when it exit this range.
On the other hand, we notice the emergence of negative signals on the relative strength indicators, preferring the continuation of the pressure in the near-term basis, especially with the continuation of the trading under the dominance of the main bearish trend on the short-term basis.
Gold continued its decline in its last intraday trading, affected by breaking minor bullish trend line on the short-term basis, breaking the key support at 4.050, which put negative pressure on the current movement, accompanied by the stability below EMA50, reducing the chances of the recovery on the near-term basis, especially with the absence of real attempts to recover the bullish momentum.
Noticing the emergence of new bearish signals on the relative strength indicators, after offloading some of its previous oversold conditions, opening the way for recording more of the losses in the upcoming period, accompanied by the technical signals that indicates the likelihoods of continuing the bearish pressure unless gold price returns to trade above the broken support levels.