Weekly Technical Analysis — 7 September 2026Germany 40, DailySPREADEX:GDAXISpreadexWall Street has eased into a shallow pullback after tagging fresh highs near 55,000 in August, with price now sitting just below VWAP inside the upper half of its band. The rising trendline continues to underpin the broader uptrend, and RSI's retreat to the high-40s reflects cooling momentum rather than a reversal. A reclaim of VWAP would keep the bullish structure intact, while a break of trendline support risks a slide toward the lower band. Germany 40 has pulled back from its recent highs, with price now trading just below VWAP after failing to sustain the push above 26,500. The index remains well above its rising trendline, keeping the broader uptrend intact, and RSI's slip to the mid-40s points to a pause rather than a trend change. A recovery back above VWAP would restore bullish momentum, while a break of trendline support would open the door to a deeper correction. UK 100 is consolidating just below its recent high, with price holding modestly above VWAP as the index digests its August rally. A descending short-term trendline is capping the advance for now, but the broader uptrend remains intact with RSI sitting comfortably above neutral. A break above trendline resistance would reopen the path to fresh highs, while a slip back below VWAP would flag a deeper pullback toward support. Cable has eased back from its recent push toward 1.3670, with price now trading just below VWAP in a shallow pullback. The pair remains above its rising trendline, keeping the broader bullish structure intact, and RSI's return to neutral reflects fading upside momentum rather than a reversal. A reclaim of VWAP would put resistance back in view, while a break of trendline support would risk a deeper slide toward 1.3460. EUR/USD continues to chop without a clear direction, with price oscillating around VWAP inside a well-defined range between support and resistance. The pair has recovered a large share of its summer decline but has yet to challenge the descending trendline capping the topside, and RSI sitting near neutral offers no strong directional edge. A decisive break of either the trendline or the range extremes would be needed to establish a fresh trend. USD/JPY has turned sharply bearish, breaking down through both VWAP and its support trendline as sellers took firm control of the pair over the past week. The move lower has been impulsive, with RSI plunging into oversold territory as downside momentum accelerates. VWAP now acts as resistance on any bounce, with further downside favoured while price holds below the broken trendline. Gold has pulled back from its recent push toward 4,500, with price now trading just below VWAP after the rally stalled beneath the descending trendline. The broader recovery from the year's lows remains intact, and RSI's retreat to neutral reflects a pause in momentum rather than a reversal. A break above the trendline would reopen the path higher, while holding below VWAP risks a deeper correction toward support. Brent Crude has extended its rally in impulsive fashion, trading well clear of VWAP as it presses against the horizontal resistance that has capped price since the spring. RSI's push into the mid-60s underlines the strength of the current move, with the trend showing no signs of stalling yet. A break above resistance would open the door to fresh highs, while a close back below VWAP would be the first sign this leg is losing steam.