GBPUSD settles with sharp consecutive losses in its recent intraday trading, after breaking the main bullish trend on the short-term basis, accompanied by its decline below EMA50, signaling increasing bullish pressure and weakening bullish momentum.

The bearish outlook reinforces by the continuation of the negative signals emergence from the relative strength indicators, increasing the likelihoods of continuing the decline in the near upcoming period and reduces the chances of recovery, unless the price manages to trade above the main technical resistance levels.

Bitcoin (BTCUSD) resumed its rise during its recent intraday trading after offloading part of its overbought conditions on the relative strength indicators, which reactivated positive momentum and opened the way for rising in the near term.

The technical outlook remains supportive of further gains, amid the dominance of the short-term uptrend and the trading along a supportive trendline, alongside continued trading above EMA50, which continues to act as dynamic support. With momentum continuing to improve, the chances of reaching higher resistance levels remain intact if the price holds above its current support levels.

Crude oil continued its gains during its recent intraday trading, approaching a test of the key resistance level of $85.50, which was our latest price target in previous analysis, supported by continued buying momentum and an improvement in the short-term technical performance.

The positive outlook remains supported by the price continuing to trade above EMA50, which continues to act as dynamic support, alongside positive signals from the relative strength indicators, reinforcing the stability of the bullish corrective trend, while breaching this resistance and holding above it remains a crucial factor in opening the way toward targeting new resistance levels in the coming period.

Silver extended its gains during its recent intraday trading, attacking the important resistance level of $59.75, benefiting from the positive momentum that followed breaching a minor short-term bearish trendline, alongside its continued trading above EMA50, which continues to provide dynamic support.

Although negative signals have begun to emerge from the relative strength indicators after reaching overbought levels, they have not affected the price performance so far, indicating that bullish momentum remains strong. This reinforces the chances of extending these gains and targeting higher resistance levels in the near term.