The GBPUSD price shows weak trades since morning, fluctuating near 1.2580$ level, waiting to get negative motive that assist to push the price to resume the expected bearish trend for today, which its targets begin by breaking the mentioned level to open the way to head towards 1.2480$ as a next negative station.

Negative indicators, and the expected trend

• The negative scenario depends on the completion of the double top pattern that appears on the chart.

• The price needs to hold below 1.2700$ to continue the bearish trend.

The expected scenarios

• The expected trend for today is bearish, and the next main target reaches 1.2480$.

• Breaching 1.2700$ will stop the negative scenario and push the price to turn to rise.

Expected trading range and trend

The expected trading range for today is between 1.2500$ support and 1.2660$ resistance.

Trend forecast: Bearish

The EURUSD price keeps its stability below 1.0860$ level, to keep the negative effect of the double top pattern active and keep the bearish trend scenario valid for today, which targets 1.0765$ followed by 1.0690$ levels as next main stations.

Positive signals, expected decline

• Stochastic positivity might cause some temporary sideways fluctuation before resuming the expected decline.

• The EMA50 continues to press negatively on the price to support the continuation of the bearish trend.

The expected scenarios

• The overall expected trend is bearish, and breaking 1.0800$ will reinforce these expectations.

• Breaching 1.0860$ will stop the bearish trend and lead the price to turn to rise.

Expected trading range and price overview

The expected trading range for today is between 1.0720$ support and 1.0870$ resistance.

Trend forecast: bearish

The GBPCAD pair touched the main bullish channel’s support line at 1.7075 during the recent correctional decline, to form solid obstacle against the attempt to move to the bearish track and notice forming quick bullish rebound to settle near 1.7145.

We notice the MA55 approach to the mentioned major support to confirm confining trades within the bullish track, allowing us to wait to gather the additional positive momentum and ease the mission of targeting many positive stations that might start at 1.7190 followed by reaching the next obstacle at 1.7245.

The expected trading range for today is between 1.7120 and 1.7190

Trend forecast: Bullish

Natural gas price didn’t move until today’s trading, by fluctuating frequently between the major barrier 2.000$ and the historical support 1.540$ that forms solid obstacle against the attempt to move to the negative track again.

These factors confirm surrendering to the domination of the sideways bias, noting that stochastic reach to the oversold areas might force it to form some additional negative waves to repeat the pressure on the historical support now.

The expected trading range for today is between 1.710$ and 1.540$

Trend forecast: Sideways