The GBPUSD pair managed to surpass 1.2300 level to confirm extending the bearish wave on the intraday and short term basis, organized inside the bearish channel that appears on the chart, motivated by the negative signal provided by stochastic, waiting to head towards our next target that reaches 1.2200.

Therefore, we are waiting for more decline in the upcoming sessions, noting that breaching 1.2410 might push the price to achieve some intraday gains and test 1.2490 – 1.2540 areas before any new attempt to decline.

The expected trading range for today is between 1.2200 support and 1.2350 resistance.

The expected trend for today: Bearish

The EURUSD pair begins today with clear negativity to break the intraday bullish channel’s support line and settles below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, opening the way to head towards our negative targets that start at 1.0450 followed by 1.0400.

The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price rallied to breach 1.0580 and hold above it.

The expected trading range for today is between 1.0420 support and 1.0580 resistance.

The expected trend for today: Bearish

Gold price tests 1890.00 level, and as long as the price is below this level, our bearish overview will remain valid on the intraday basis, supported by stochastic loss to the positive momentum, waiting to get negative motive that assist to push the price to visit 1850.00 that represents our next target.

The EURUSD pair trades positively to test the key resistance 1.0580, and as we mentioned in our major reports, the price needs to hold below this level to keep the bearish trend active for the upcoming period, as breaching it will lead the price to achieve new bullish correction that targets testing 1.0650 initially, while the next negative target of the expected bearish wave is located at 1.0450.