GBPUSD Analysis
GBP/USD Breaks Below Support – Bears in Control Near 1.2750
GBP/USD drops sharply after 1.3050 rejection. RSI at 32.14 nears oversold, but no reversal signs yet. Bears dominate below 1.2940.
GBP/USD fell sharply after a failed breakout attempt at 1.3050, breaking below key support and the Supertrend, which has now flipped bearish. The pair is trading near 1.2750, while RSI sits at 32.14, approaching oversold territory. Although this may hint at a potential pause in selling, there’s no bullish divergence or reversal pattern in sight. Unless price recovers above 1.2940, the bearish bias remains intact.
BRENT Analysis
Brent Crude Breaks Channel – Eyes on 62 as Pressure Builds
Brent slips to 64.55 after losing channel support. RSI at 25.70 signals oversold, but bulls need a reclaim above 67.75 to recover.
Brent crude oil has broken down from its ascending channel, facing heavy selling pressure that dragged price into the 64.50–67.70 demand zone. Despite this support, Brent has failed to reclaim 67.75 resistance and now trades weakly around 64.55. The RSI at 25.70 signals oversold conditions, but unless price breaks and holds above 67.75, further downside toward 62.00 remains likely. A confirmed bullish reversal requires a strong reclaim of resistance.
NQ Analysis
Nasdaq Futures Rebound Stalls Below 17,945 Resistance
Nasdaq bounces from 17,059 but struggles under 17,945. RSI recovers above 40, but a breakout is needed to confirm bullish intent.
Nasdaq futures (NQ) rebounded strongly from the 17,059 support level after a sharp drop but are now consolidating beneath 17,945 resistance—a key zone tied to the recent breakdown. Although the RSI has recovered above 40, signaling a slowdown in bearish momentum, there’s no confirmed breakout yet. For bulls to reclaim control, price must break and hold above 17,945. Otherwise, the current pause could turn into a continuation of the prior downtrend.
ES Analysis
S&P 500 Futures Rebound Faces Key Resistance at 5,204
ES rebounds from 4,831 but stalls near 5,204 resistance. RSI at 40.19 shows recovery, but bearish structure remains unless 5,335 breaks.
S&P 500 futures (ES) rebounded from strong support at 4,831, but the upside remains limited by resistance near 5,204, which aligns with the bearish Supertrend. Current price action may suggest a distribution phase if this resistance holds. The RSI is recovering, currently at 40.19, which may support further upside attempts. However, confirmation above 5,204, and especially 5,335, is needed to negate the recent bearish structure.
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