First off let’s start by creating a new document and applying the oh so obligatory clouds (Filter > Render > Clouds).
Now that we have our base to work with apply Mezzotint (Filter > Pixelate > Mezzotint) with type “Long Strokes”.
Doesn’t look much right now, but with the magic of motion blur (Filter > Blur > Motion Blur), with an angle of 90 degrees and a distance of 999 for the settings, everything will be better.
Now add a new layer, and overlay some color over it. Here I chose the Rainbow Gradient using the Gradient Tool (G), but you can choose whatever suits you. When you have a layer of color, set the layer mode to Overlay.
If you feel like being creative, you can tweak some more by changing the curves (CTRL + M) to make the image either brighter or gloomier depending on the mood.
Now create a new layer. Then select the Marquee Tool (M), set it to elliptical, and the Feather to 30, and select around the picture (use the example below for reference). Then select inverse (CTRL + SHIFT + I), and fill (Edit > Fill) with black. Then change the opacity to 75% so that it is a bit more subtle.
Again create a new layer, and with the same Marquee tool settings as above, select (use the example below as reference). Then change the curve (CTRL + M) to something like in the example. Afterward, change the opacity to 60% so that it isn’t blinding. Try to be creative and change the settings to your taste.
Now we are done with the background. You can choose to do whatever you want with it. But I’ll leave you guys with a simple example that you can easily do for generic jobs.
Reset the Marquee Tool to rectangular with 0 feather. Then create a horizontal bar in the middle of the picture. Then fill it with white (Edit > Fill) and lower the opacity to say, 50%.
Now while still selecting the area, select the first layer (The clouds + mezzotint + motion blur layer), copy it (CTRL + C) and paste it (CTRL +V) in a layer above it, but below the color overlay. Deselect, and apply Gaussian blur to it (Filter > Blur > Gaussian blur) with a setting of about 3.2 pixels.
Going back to the top layer, duplicate (Layer > Duplicate Layer) the white horizontal bar layer you created in step 8 and transform it (CTRL + T). Then make it slightly smaller height wise. About 2px from the top and the bottom.