GBPUSD breaks the neckline of triple top -Analysis-09-05-2025
The (GBPUSD) price declined in its recent intraday trading, breaking the critical support level at 0.3260, which represents a neckline for clear negative formation on the short-term basis – the triple top pattern, which reverses the previous bullish trend. This break is considered as a strong technical signal for turning the price behavior, supporting the continuation of the dominant bearish correctional wave on the price.
This negative performance comes amid the continuation of the negative pressures, with the stability of the price below EMA50, besides the emergence of the negative signals on the (RSI), despite its stability below 0.3260, to target the support at 1.3160.
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USDJPY in a truce to catch its breath -Analysis-09-05-2025
The (USDJPY) price declined in its recent intraday trading, attempting to gather the gains of its previous rises, to gather its positive strength that might help it to resume the strong bullish wave, and it attempts to offload some of its clear overbought conditions on the (RSI).
This performance comes amid the dominance of the bullish correctional trend on the short-term basis, with its stability above the resistance of 145.50, this level represents 50% Fibonacci correction level for the last bearish wave on the short-term basis(from 151.20 to 139.88)
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USDCAD extends its gains -Analysis-09-05-2025
The (USDCAD) price rose in its recent intraday trading, to confirm breaching the key resistance at 1.3900, amid the dominance of a bullish correctional wave on the short-term basis, affected by a positive technical pattern that was formed on the short-term basis (the falling wedge pattern), supported by its continuous trading above its EMA50.
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AUDUSD deepens its losses -Analysis-09-05-2025
The (AUDUSD) price continued its decline in its recent intraday trading, affected by the previously- formed negative technical pattern on the short-term basis, which is the double top pattern. A dominant bearish correctional wave still extended by continuous negative pressure due to its trading below EMA50, besides the emergence of the negative signals on the (RSI), despite entering oversold levels.
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