Price Analysis for GBPUSD

Expected Scenario

• The GBPUSD price continues to crawl downwards to approach retesting the breached neckline of the double bottom pattern, while the positive effect of this pattern still active, to continue suggesting the bullish trend for the upcoming period, which its targets begin by breaching 1.2700$ to confirm heading towards 1.2800$.
• On the other hand, we should note that breaking 1.2630$ followed by 1.2580$ levels will stop the suggested positive scenario and push the price to turn to decline.

Expected Trading Range

Between 1.2580$ support and 1.2740$ resistance.

Price Analysis for EURUSD

Expected Scenario

• The EURUSD price continues to trade negatively, as it presses on the bullish channel’s support line that appears on the chart, which hints heading to continue the decline in the upcoming sessions, on its way to test 1.0795$ mainly.
• Therefore, we expect to witness negative trades today, being aware that it is important to monitor the price at the key levels represented by 1.0795$ support and 1.0875$ resistance, as breaking this level represents the key to extend the bearish wave towards 1.0715$ areas, while breaching the resistance will lead the price to regain the main bullish track and achieve new gains that reach 1.0975$.

Expected Trading Range

Between 1.0780$ support and 1.0935$ resistance.

Brent Oil Price Analysis

Expected Scenario

Brent oil price shows weak trades since morning, and as long as the price is above 82.40$, the bullish bias will remain suggested for today, which targets testing 84.77$ before turning back to resume the correctional bearish track again.

On the other hand, we remind you that breaking 82.40$ will stop the expected bullish trend and put the price under the negative pressure that its next main target reaches 80.08$.

Expected Trading Range

The expected trading range for today is between 82.20$ support and 85.10$ resistance.

Crude Oil Price Analysis

Expected Scenario

Crude oil price finds good resistance formed by the EMA50 against the positive attempts, to show some slight bearish bias now, while the sideways move scenario still valid until the price manages to breach 79.60$ resistance or break 77.64$ support, noting that the continuation of the decline and breaking the support will push the price to achieve additional bearish correction that its next target reaches 75.25$, while breaching the resistance represents the key to rally to test 81.50$ before detecting the next trend on the short-term basis.

Expected Trading Range

The expected trading range for today is between 77.40$ support and 80.70$ resistance.