The GBPUSD pair faced clear negative pressure yesterday, as it broke 1.2650 level and closed the daily candlestick below it, which stops the recently suggested positive scenario to head towards achieving expected bearish correction in the upcoming sessions, targeting testing 1.2540 mainly.

Therefore, the bearish bias will be suggested for today, supported by moving below the EMA50, noting that breaching 1.2650 and holding above it again will reactivate the main bullish wave to head towards achieving gains that reach 1.2760 initially.

The expected trading range for today is between 1.2540 support and 1.2700 resistance.

The expected trend for today: Bearish

The EURUSD pair provided negative trades yesterday and settled below the EMA50, to support the continuation of the expected bearish wave on the intraday basis, waiting to test 1.0765 as a next target.

Note that breaking the mentioned target will extend the bearish wave to reach 1.0645 as a next main target, noticing that stochastic provides positive signals that might push the price to provide some temporary positive fluctuation before resuming the expected decline.

In general, the bearish trend scenario will remain suggested in the upcoming sessions unless breaching 1.0860 followed by 1.0890 and holding above them.

The expected trading range for today is between 1.0730 support and 1.0900 resistance.

The expected trend for today: Bearish

Crude oil price achieved initial breach to 78.85 and attempts to hold above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, waiting to visit 80.00 as a next main target, reminding you that the continuation of the bullish wave depends on the price stability above 78.25.

Gold price rallied upwards to breach the neckline of the inverted head and shoulders’ pattern and supports the continuation of the expected bullish trend on the intrada basis, waiting to test 2065.70 level as a next main target, reminding you that breaching it will extend the bullish wave to reach 2095.00, while the expected rise will remain valid conditioned by the price stability above 2016.90.