2026.06.12 2026.06.12 GBP/USD: Elliott Wave Analysis and Forecast for 12.06.26–19.06.26
Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/
The article covers the following subjects:
Major Takeaways
Main scenario: Consider short positions from corrections below the level of 1.3650 with a target of 1.3140–1.2936. A sell signal: the price holds below 1.3650. Stop Loss: above 1.3690, Take Profit: 1.3140–1.2936.
Alternative scenario: Breakout and consolidation above the level of 1.3650 will allow the pair to continue rising to the levels of 1.3870–1.4300. A buy signal: the level of 1.3650 is broken to the upside. Stop Loss: below 1.3610, Take Profit: 1.3870–1.4300.
Main Scenario
Consider short positions from corrections below 1.3650 with a target of 1.3140–1.2936.
Alternative Scenario
Breakout and consolidation above 1.3650 will allow the pair to continue rising to the levels of 1.3870–1.4300.
Analysis
On the weekly time frame, an ascending wave of larger degree (A) of B is developing. Within it, wave 1 of (A) has formed, and a downward correction has been completed as wave 2 of (A). The third wave 3 of (A) appears to be unfolding on the daily chart. Within it, wave i of 3 has formed, and bearish correction ii of 3 is developing. Wave (c) of ii is developing on the H4 chart, with wave iii of (c) unfolding as its part. If the presumption is correct, GBP/USD will continue to decline to the levels of 1.3140–1.2936. The level of 1.3650 is critical in this scenario as a breakout above it will enable the pair to continue rising to the levels of 1.3870–1.4300.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of GBPUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
At 8:50 a.m. Eastern Time today, oil was priced at $89.94 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a drop of $5.21 compared with yesterday morning—but more than $19 higher than the price one year ago.
Oil price per barrel
% Change
Price of oil yesterday
$95.15
-5.47%
Price of oil 1 month ago
$107.67
-16.46%
Price of oil 1 year ago
$70.70
+27.21%
Price of oil yesterday
Oil price per barrel
$95.15
% Change
-5.47%
Price of oil 1 month ago
Oil price per barrel
$107.67
% Change
-16.46%
Price of oil 1 year ago
Oil price per barrel
$70.70
% Change
+27.21%
Will oil prices go up?
It’s impossible to forecast oil prices with detailed precision. Many different elements affect the market, but ultimately it boils down to supply and demand. When worries about economic recession, war, and other large-scale disruptions increase, oil’s path can shift fast.
How oil prices translate to gas pump prices
Gas prices at the pump don’t only track crude oil. They also include what it takes to refine and move that fuel, the taxes layered on top, and the extra markup your local station adds to stay in business.
Since crude oil generally makes up a majority of the per-gallon cost, changes in its price have an outsized impact. When oil surges, gas prices typically rise in tandem. But when oil retreats, gas prices often lag on the way down, a trend sometimes described as “rockets and feathers.”
The role of the U.S. Strategic Petroleum Reserve
In case of emergency, the U.S. has a store of crude oil known as the Strategic Petroleum Reserve. Its primary purpose is energy security in case of disaster (think sanctions, severe storm damage, even war). But it can also go a long way toward softening crippling price hikes during supply shocks.
It’s not a long-term answer and is more meant to provide temporary relief, assisting consumers and keeping critical parts of the economy running, like key industries, emergency services, public transportation, etc.
How oil and natural gas prices are linked
Both oil and natural gas are key sources of the energy we use every day. Because of this, a big change in oil prices can affect natural gas. For example, if oil prices increase, some industries may swap natural gas for some segments of their operations where possible, which increases demand for natural gas.
Historical performance of oil
To gauge oil’s performance, we often turn to two benchmarks:
Brent crude oil, the main global oil benchmark.
West Texas Intermediate (WTI), the main benchmark of North America
Between these two, Brent better represents global oil performance because it prices much of the world’s traded crude. And, it’s often the best way to track historical oil performance. In fact, even the U.S. Energy Information Administration now uses Brent as its primary reference in its Annual Energy Outlook.
Looking at the Brent benchmark across several decades, oil has been anything but steady. It’s seen spikes due to factors such as wars and supply cuts, and it’s also seen crashes from global recessions and an oversupply (called a “glut”). For example:
The early 1970s brought the first big oil shock when the Middle East cut exports and imposed an embargo on the U.S. and others during the Yom Kippur War.
Prices dropped in the mid-1980s for reasons such as lower demand and more non-OPEC oil producers entering the industry.
Prices spiked again in 2008 with increased global demand, but it soon plummeted alongside the global financial crisis.
During the 2020 COVID lockdown, oil demand collapsed like never before—bringing prices below $20 per barrel.
All to say, oil’s historical performance has been anything but smooth. Again, it’s hugely affected by wars, recessions, OPEC whims, evolving energy initiatives and policies, and much more.
Energy coverage from Fortune
Looking to stay up-to-date regarding the latest energy developments? Check out our recent coverage:
Frequently asked questions
How is the current price of oil per barrel actually determined?
The current price of oil per barrel depends largely on supply and demand, including news about potential future supply and demand (geopolitics, decisions made by OPEC+, etc.). In the U.S., prices also move based on how friendly an administration is to drilling, as it can affect future supply. For example, 2025 saw the Trump administration move to reopen more than 1.5 million acres in the Coastal Plain of the Arctic National Wildlife Refuge for oil and gas leasing, reversing the Biden administration’s policy of limiting oil drilling in the Arctic.
How often does the price of oil change during the day?
The price of oil updates constantly when the “futures” markets are open. A futures market is effectively an auction where people agree to buy or sell oil in the future. As long as people and companies are trading contracts, the oil price is changing.
How does U.S. shale oil production affect the current price of oil?
In short, shale is rock that contains oil and natural gas. Think of shale as energy yet to be tapped. The more shale the U.S. accesses, the more energy we’ll have—and the more easily oil prices can keep from spiking as much thanks to a greater supply.
How does the current price of oil impact inflation and the broader economy?
When oil is expensive, it tends to make everyday items cost more. This can be related to energy (your heating, gas utilities, etc.), but it’s also due to the logistics involved with making those items accessible to you. Shipping, for example, can affect the price of things at the grocery store, as it’s more expensive to get those products from warehouses and farms onto the shelf.
The U.S. dollar has rallied just a bit against the Japanese yen, but really, at this point in time I think we’re going to be very cautious heading into the weekend. There is going to be a lot of fear that maybe the Japanese will intervene. I think, given enough time, though, we probably do break out to a fresh new high, which would be the demolishing of a 1990 swing high, so that really could get this thing moving.
In fact, the measured move of the rounded bottom is for $224, so we’re talking multi-year. Whether or not that happens remains to be seen, but I still assume it will eventually. If we break down from here, I’ll be looking at the 50-day EMA as a potential area of support as well. I have no interest in shorting the dollar against the yen, and I do plan on continuing to keep holding onto the position in a long trade so that I can click swap at the end of every day.
2026.06.12 2026.06.12 WTI Crude Oil: Elliott Wave Analysis and Forecast for 12.06.26–19.06.26
Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/
The article covers the following subjects:
Major Takeaways
Main scenario: Consider short positions from corrections below the level of 92.06 with a target of 78.00–65.00. A sell signal: the price holds below 92.06. Stop Loss: above 93.00, Take Profit: 78.00–65.00.
Alternative scenario: Breakout and consolidation above the level of 92.06 will allow the asset to continue rising to the levels of 105.17–115.45. A buy signal: the level of 92.06 is broken to the upside. Stop Loss: below 91.00, Take Profit: 105.17–115.45.
Main Scenario
Consider short positions from corrections below the level of 92.06 with a target of 78.00–65.00.
Alternative Scenario
Breakout and consolidation above the level of 92.06 will allow the asset to continue rising to the levels of 105.17–115.45.
Analysis
A descending correction appears to have formed as the second wave of larger degree (2) on the weekly chart, with wave C of (2) completed as its part. On the daily time frame, an ascending third wave (3) appears to have started developing. Within it, the first wave of smaller degree 1 of (3) has formed, and a downward correction is unfolding as the second wave 2 of (3). Wave c of 2 is presumably developing on the H4 chart; within it, wave (v) of c is unfolding. If the presumption is correct, WTI will continue to decline to the levels of 78.00–65.00. The level of 92.06 is critical in this scenario as a breakout above it will enable the asset to continue rising to the levels of 105.17–115.45.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of USCRUDE in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
The Euro initially tried to rally a bit during the trading session here on Thursday, but it continues to see overhead pressure.
This is interesting because we did have the ECB interest rate decision as well as a statement, and despite the fact that the Europeans did in fact raise interest rates by 25 basis points, but all things being equal, this is a market that I think continues to see a lot of questions about whether or not the market is going to continue to expect weakness out of Europe, and I think they do.
The reaction certainly was negative, especially considering that US interest rates dropped. You would think that would lead to higher pricing of the Euro, but it clearly hasn’t. So, at this point in time, I think we are looking at this as a potential move to the 1.14 level underneath.
Potential Move to Key Support Levels
The 1.14 level underneath is an area that a lot of people will be watching very closely, as it was previous massive support. And if we were to break down below there, then it opens up the possibility of a move to the 1.12 level.
Any rally at this point in time, I think, would struggle to have a bit of a barrier in the form of the 200-day EMA at the 1.1612 level. Breaking above that would be extraordinarily strong, but I just don’t see that happening.
So, with that being said, I think this is a “fade the rally” market, and the last 4 days have clearly shown that to at least be true so far. I have a hard time with the idea of buying the Euro at the moment, at least against the US dollar.
Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
The gold market has chopped back and forth during the trading session here on Thursday as we are hovering just above the crucial $4,000 level.
The $4,000 level is an area that I think traders continue to look at very closely, mainly due to the idea that a large, round, psychologically significant figure probably attracts a lot of attention from options traders.
That being said, it’s interesting that the XAU/USD pair continues to look kind of sluggish despite the fact that interest rates are starting to drop. So that is a little bit of a move from the negative correlation between interest rates and gold that we saw. Regardless, the $4,000 level for me is crucial. If we give that up, we will probably drop another $500.
I’m not a big fan of shorting gold, although it clearly doesn’t do well buying it over the last couple of weeks. But if we do bounce from here, I can see a short-term opportunity might present itself for both buyers and sellers. I would anticipate that the 200-day EMA offers a bit of a barrier.
Ultimately, this is a market that I would fade signs of exhaustion until we see some type of change in attitude, and it’s probably worth noting that the US dollar is extraordinarily strong despite the fact that we have the overall attitude of the markets changing, and I think you have a market that I think remains noisy.
Long-Term Trend and Trading Strategy
Longer term, I do like gold, but I think if we do pull back from here, and when you look at the longer-term charts, it does make a certain amount of sense, we could drop down to the $3,500 level, and it would just be a nice pullback in a huge uptrend.
So, with that being said, I like the idea of buying gold eventually, just not right now. If you’re a day trader, you might be able to trade the pop, but you have to be very nimble and get out at the first sign of trouble.
Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
The price of copper recently tested the additional support level at $6.1000, which has formed a strong barrier against attempts to resume the corrective decline. As a result, we are currently seeing some positive waves forming, with the price stabilizing near $6.3600.
We expect the price to be influenced by sideways movement dominance due to its repeated confinement between the previously mentioned support level, while the $6.6600 level continues to act as a strong barrier at the moment. However, the stochastic indicator attempting to provide negative momentum increases the chances of renewed corrective moves, which may pressure the support again and create an opportunity to resume the corrective downtrend in the short to medium term.
Expected trading range for today: between $5.1000 and $6.4200
Today’s forecast: Bearish, as long as the resistance holds
The price of copper recently tested the additional support level at $6.1000, which has formed a strong barrier against attempts to resume the corrective decline. As a result, we are currently seeing some positive waves forming, with the price stabilizing near $6.3600.
We expect the price to be influenced by sideways movement dominance due to its repeated confinement between the previously mentioned support level, while the $6.6600 level continues to act as a strong barrier at the moment. However, the stochastic indicator attempting to provide negative momentum increases the chances of renewed corrective moves, which may pressure the support again and create an opportunity to resume the corrective downtrend in the short to medium term.
Expected trading range for today: between $5.1000 and $6.4200
Today’s forecast: Bearish, as long as the resistance holds
EUR/USD is losing ground as traders react to the ECB Interest Rate Decision. The European Central Bank raised the interest rate from 2.15% to 2.4%, in line with analyst consensus.
ECB noted that the war in the Middle East generated inflation pressures. According to ECB, headline inflation is expected to average 3.0% in 2026, 2.3% in 2027, and 2.0% in 2028.
Currently, EUR/USD is trying to settle below the support level at 1.1500 – 1.1515. In case this attempt is successful, EUR/USD will move towards the next support, which is located in the 1.1415 – 1.1430 range.
Stay informed on platinum price trends in Jayankondam. Today’s rates stand at ₹51,060
for 10g, ₹5,10,600 for 100g, and ₹51,06,000 for 1kg. In June, platinum
saw fluctuations. The highest rate for 100g touched ₹5,95,300,
and the lowest fell to ₹5,10,200. For 1kg, prices ranged from
₹51,02,000 to ₹59,53,000.
Global supply chains, mining rates, and geopolitical issues are major drivers of platinum
prices. Demand from the auto and electronics industries adds pressure. Exchange rate
movements, especially against the US dollar, combined with inflation trends and central
bank strategies, contribute significantly to changes in platinum’s market price.
