GBPUSD declined in its last intraday trading, preparing to break our expected target in our previous analysis 1.3625 support, amid the dominance of bearish corrective wave on short-term basis, with its trading alongside supportive trend line for this path, with the continuation of the negative pressure due to its trading below EMA50, besides the emergence of negative signals from relative strength indicators, despite reaching oversold levels.
Bitcoin’s price kept declining during its last intraday trading, breaking the key support of $74,000, which represents potential target in our previous analysis, this break reinforced the strength of the selling pressure and pushed the price to record new losses with the acceleration of the negative momentum on short-term basis.
This weak performance comes amid clear dominance for the main bearish trend, with the continuation of the trading below EMA50, forming dynamic resistance that press on any rebounding attempts, besides the emergence of negative signals from relative strength indicators, preferring the continuation of the pressures in the upcoming trading, unless clear opposing technical signals emerge.
Crude oil prices declined in their last intraday trading, in natural corrective move to take breather, as the price is attempting to gain bullish momentum that might help it to recover and return to the upside again, accompanied by the attempts of relative strength indicators to offload its overbought conditions, especially with the emergence of negative signals from there, which explains the current fluctuation.
Despite this intraday pressure, the main bullish trend remains dominant on short-term basis, supported by the continuation of the trading above EMA50, which represents a key dynamic support, besides the trading alongside supportive trendline for this path, keeping the chances of resuming the rise valid in the near period.
Silver prices (SILVER) slipped lower in their recent intraday trading, after the failure to breach the key resistance at $90.00, which turned into selling pressure that pushed the price to decline, reaching our expected target in our previous analysis at $81.30 support.
This decline comes amid the dominance of the bearish corrective trend on short-term basis, affected by breaking main bullish trend line that increased the intense of the negative pressure, and the dynamic pressure continues due to trading below EMA50, accompanied by the emergence of negative signals from relative strength indicators, preferring the continuation of the intraday weakness unless the price manages to settle above the current support.