This post was originally published on this site.WTI crude oil futures settled at $82.61, down $6.70 (-7.50%) on the day. It was the largest one-day decline since April 17, when prices tumbled 9.86%, as easing geopolitical tensions sparked heavy selling across the energy market. From a technical perspective, the bearish tone strengthened as the price broke below several key support levels. WTI fell beneath its 100-hour moving average at $87.42, its 200-hour moving average at $84.08, and the 38.2% retracement of the July rally at $83.42. Those breaks shift the near-term bias more firmly in favor of the sellers. Going...

This post was originally published on this site.GBPUSD sellers have seized control, pushing the pair below last week’s low and to its weakest level since July 2. Last week’s low at 1.3299 was an important technical level, aligning with the 61.8% retracement of the rally from the June 23 low to the July high. Buyers initially tried to defend that support, sparking a modest rebound toward 1.3313, but the recovery quickly stalled. Once the price broke below 1.3299, downside momentum accelerated, sending the pair to a session low of 1.3283. The next downside target comes in at 1.3261. A break...