The GBPUSD pair begins today with additional negativity to attempt to break the bullish channel’s support line, which support the continuation of our bearish overview, targeting 1.3775 followed by 1.3685 levels as next negative stations.

On the other hand, we notice that the price completed forming head and shoulder’s pattern that its signs appear on the chart, which form strong motive that supports the chances of achieving the above-mentioned targets.

Therefore, the bearish trend will remain valid and active for the upcoming period conditioned by the price stability below 1.4000.

The expected trading range for today is between 1.3770 support and 1.3960 resistance.

The expected trend for today: Bearish

The EURUSD pair confirmed breaking 1.2064 after retesting it and closing the daily candlestick below it, which reinforce the continuation of the expected bearish trend scenario efficiently for the upcoming sessions, and the way is open to visit 1.1976 that represents our next target, noting that breaking this level will extend the bearish wave to reach 1.1888 as a next station.

The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 1.2064 and 1.2100 levels.

The expected trading range for today is between 1.1940 support and 1.2080 resistance.

The expected trend for today: Bearish

Crude oil price bounced downwards strongly to break the bullish channel’s support line and settles below it, which hints the price head to achieve more decline that its next target reaches 59.60, which will be confirmed in case the price closed today below 61.40.

Gold price faces clear negative pressure to break 1740.00 level and settles below it, which leads the price to return to the bearish track, noting that closing the daily candlestick below the mentioned level will push the price to achieve additional negative targets that extend to 1700.00, while stepping above it will revive the positive scenario that its next target located at 1765.00.