GBP/USD, Technical Analysis – H1
Bulls failed to update the upper structural high, shifting the market into either a consolidation phase.
Bulls failed to update the upper structural high, shifting the market into either a consolidation phase.
Natural gas is forming a “double bottom” pattern, which could serve as the foundation for a more significant reversal formation (such as an inverted Head and Shoulders).
The pair continues to consolidate inside a narrowing triangular pattern between 162,000 and 162,400. It is likely to remain within this range.
Bitcoin (BTC/USD) trades at 64,806 this Wednesday morning, staging a powerful breakout from its two-week consolidation phase.
Technically, the pair is not in a clear trend. It continues to update structural extremes with each price swing.
Brent Crude trades at 85.10 this Wednesday morning, sustaining its break above the psychological 85.00 threshold for the first time in a month.
Gold has likely completed its medium-term downtrend.
The pair continues to consolidate inside a narrowing triangular range between 161.800 and 162.400.
Bulls have successfully defended the overall uptrend structure during the latest technical pullback, effectively removing near-term concerns about a potential trend reversal.
From a medium-term perspective, the pair continues to exhibit clear bearish dominance.
Gold dipped below the key psychological level of $4,000 per troy ounce but buyers are currently treating this zone as fair value and are actively defending it.
Bitcoin (BTC/USD) trades at 62,660 this Tuesday morning, remaining tightly bound within a risk-off macro corridor.
Brent Crude has exploded to 84.17 this Tuesday morning, gaining nearly 10% in a vertical rally that is rapidly closing in on a key technical chart gap at 87.00.
Despite the massive and prolonged upward price swing, bulls have so far failed to update the structural high, preserving the overall bearish character of the chart.
The asset is in the final stage of its downtrend as the market approaches a major support zone around 2,750.