The EUR/USD pair settled higher in latest intraday trading and retested the pivotal resistance of $1.0820, which represents the neckline of a negative technical pattern that’s forming in the short term, the Double Top pattern, which is decisive in determining the upcoming direction.

Despite the latest gains, the price is still dominated by a downward correctional trend as it continues to trade below the 50-candle SMA, with selling pressures bolstered even further by a forming negative divergence in the Stochastic after reaching overbought levels compared to the price’s movements, sending out negative signals.

The GBP/USD pair rose in latest intraday trading after exiting a downward correctional price channel that guided recent short-term trading, amid the dominance of the main upward trend in the medium term as the price trades alongside the trend line.

The gains were stymied after the price bumped into the resistance of the 50-candle SMA, bouncing lower in an attempt to gather enough positive momentum to shake off that pressure.

The USD/JPY pair edged lower in latest intraday trading, after the pivotal resistance of 150.95 held on, especially as the price finished a negative harmonic pattern there, the Gartley pattern, with negative signals emerging from the Stochastic after reaching overbought levels.

It comes as the price trades within an upward correctional price channel that guided recent short-term trading.

The USD/CAD price settled higher in latest intraday trading after a hesitant rise across the day while testing a downward secondary trend line in the short term, as the price bumped into the resistance of the 50-candle SMA, representing additional negative pressure, especially with negative signals emerging from the Stochastic after reaching overbought levels, hinting at negative divergence.