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GBP/USD chart on the hourly time frame

The GBP/USD price ended last Friday’s trading with noticeable negativity, as it approached our extended target at 1.2465, but we notice that the price starts today with a bullish gap to move above 1.2566, which provides signals that the price is heading to recover and achieve some expected gains during the upcoming sessions, to head towards visiting the 1.2730 areas mainly.

Therefore, the bullish bias will be likely for today, noting that breaking 1.2566 then 1.2510 will stop the expected rise and pressure the price to resume the main bearish trend again.

EUR/USD chart on the hourly time frame

A bearish bounce will be likely during the upcoming sessions, which supports the chances of resuming the expected bearish trend on the short and intraday terms, noting that our targets start with breaking 1.0325 to confirm opening the way towards 1.0250, taking into account that breaking 1.0505 will stop the bearish wave and push the price to start an upward correction on the intraday term.

XAUUSD chart on the hourly time frame

Gold price succeeded in achieving our second expected target at 2710.00, and shows a bearish trend with the opening of the day, waiting to gather positive momentum that contributes to pushing the price to resume the main upward trend, whose targets extend to reach 2790.00.

Note that breaking the 2640.00 level will stop the upward wave and pressure the price to make a new bearish correction.

USOIL chart on the hourly time frame

Oil price made additional positive trades last Friday to reach the 71.55 areas, and we notice that the price is facing negative pressure now to head towards a possible test of 70.58, and the price needs to hold above this level to keep the upward trend intact in the coming period, reminding that our next target is at 72.15.

Exceeding the mentioned level will lead the price to achieve additional gains extending to 73.70, while breaking 70.58 will stop the upward trend and pressure the price to start a downward wave targeting the 69.70 areas and then 68.65 in the near term.