The weekly chart shows that the long term basis is bearish and this downtrend was supported by the huge symmetrical triangle with a broken support.
The weekly chart shows that the correctional direction that started at the bottom of 12.03 has found a very solid resistance at 76.4% Fibonacci at 29.30 where it started to move lower affected by facing the resistance of the upside channel as seen on the provided graph.
Sterling found solid resistance to breach above 1.5835 level, and now, this level is representing confirmation level for two positive technical patterns, first one is Double Bottom, and the second is an ascending triangle, these technical patterns provide good chances to achieve some upside correction on the intraday basis.
Crude Oil price touched the ideal target of the previously completed rising wedge pattern –support level shown in the red dashed line- in addition to the main target of the previously suggested double top formation, this target met with support line of ascending channel appears clearly in the image above.
Gold price approached near the main waited target around the critical support level of 1522.50, where trading now bounced to settle near 1550.00 that was retested yesterday.