Create a new layer and group it also with the previous one (ctrl+g). Then change the layer's Blending Mode on Linear Burn and dark out the lowest part of the words, using the usual Gradient Tool.



Select the same adjustments for the Gradient Tool and white color to make lighter the opposite words' edges. The operation should be executed on a new layer, also grouped out.



Merge down all grouped layers: Layer ? Merge Down (ctrl+e) and set the next shown adjustments in the window Layer ? Layer Style ? Blending Options.