GBPUSD witnessed sharp and sudden gains in its last intraday trading, to breach the key resistance at 1.3525, taking advantage of the dynamic support that is represented by its trading above EMA50, amid the dominance of the main bullish trend on the short-term basis with its trading alongside trend line that supports this track, on the other hand, we notice the emergence of negative overlapping signals from the relative strength indicators after reaching overbought levels, which might decelerate the rise with the same previous strong momentum.
Bitcoin’s price declined in its last intraday trading, affected by the stability of the key resistance at $94,000, which represented a potential target in our previous analysis, to enter the range of gathering gains after the previously- achieved strong rises.
This declined accompanied by the attempts of offloading some of the clear overbought condition on the relative strength indicators, especially with the emergence of negative signals from them, as a part of a momentum cooldown and regain the bullish momentum, which might support the chances of breaching the previously mentioned resistance, amid the continuation of the main bullish trend on the short-term basis.
Crude oil declined in its recent intraday trading, amid gathering the gains of its previous rises, with the price attempt to gain a new bullish momentum that might help it recover and resume the rise in the upcoming period.
This decline is accompanied by the attempts of offloading the overbought conditions on the relative strength indicators, with the emergence of negative overlapping signal that indicates a temporary calm in the momentum, amid the continuation of bullish corrective wave on the short-term basis, supported by the dynamic support due to its trading above EMA50, keeping the recovery chances valid on a near-term basis.
Gold rose in its recent intraday trading, taking advantage of its stability above $4,400, besides the continuation of the dynamic support due to its trading above EMA50, amid the dominance of the main bullish trend on the short-term basis and the trading alongside supportive trend line for this trend.
On the other hand, the relative strength indicators began sending negative signals with the emergence of negative overlapping signals after reaching overbought levels, which might limit the ability of resuming the rise in the upcoming period, making its recent gains vulnerable to consolidation or limited correction.