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The GBPUSD tests the resistance - Analysis - 08-09-2023
The GBPUSD pair is testing the key resistance 1.2505 and keeps its stability below it until now, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the main bearish trend, which its next target located at 1.2395.
Therefore, the bearish trend scenario will remain active, noting that breaching 1.2505 will stop the expected decline and lead the price to achieve intraday gains that target testing 1.2625 before any new attempt to decline.
The expected trading range for today is between 1.2400 support and 1.2560 resistance.
The expected trend for today: Bearish
The EURUSD attempts to recover - 08-09-2023
The EURUSD pair found solid support at 1.0700 level, to show some slight bullish bias now, affected by stochastic positivity, and it might head to test the key resistance 1.0785 before turning back to decline again.
MoreMidday update for Brent oil 07-09-2023
Brent oil price shows more bearish bias to approach 90.00 barrier, affected by stochastic negativity, while the main bullish trend scenario still active as long as 89.10 level remains intact, supported by the EMA50 that carries the price from below, reminding you that our main waited targets begin at 92.35 and extend to 93.20.
MoreMidday update for Crude oil 07-09-2023
Crude oil price trades at the intraday bullish channel’s support line and attempts to break it, which urges caution form the upcoming trading, as the price needs to consolidate above this support to keep the bullish trend scenario active for today, supported by stochastic gain to the positive momentum gradually, waiting motivate the price to head towards 89.95 as a next main target.
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