The EURUSD pair rose in its last intraday trading, after its attempts to offload some of its overbought conditions on the relative strength indicators in early moves for today, gathering its positive strength that might help it to recover and rise again, amid the continuation of the positive support that comes from its trading above EMA50, reinforcing the strength and stability of the bullish corrective trend on the short-term basis.

The EURGBP continued forming negative trading due to its stability within the bearish channel’s levels, breaking the extra support at 0.5865, to open the way for resuming the decline by its stability near 0.8540.

Note that the continuation of providing negative momentum by the main indicators, specifically by the stability of stochastic within the oversold levels will support the continuation of the negativity, to expect reaching the bearish channel’s resistance at 0.8515, as breaking it will confirm its move to a new bearish phase to expect a decline towards 0.8485 initially.

The expected trading range for today is between 0.8515 and 0.8560

Trend forecast: Bearish

The EURJPY pair benefited from the positive stability above 184.10 support, forming several bullish waves, achieving some gains by reaching 185.55 level, facing %61.8 Fibonacci correction level, which forces it to decline directly towards 184.90.

The current decline will not threaten the attempt of activating the bullish trend, depending on the stability of the mentioned support, therefore, we will keep waiting for gathering extra bullish momentum to ease the mission of reaching 185.85, and surpassing this barrier will extend the trading towards achieving extra gains that begin at 186.20 and 186.60.

The expected trading range for today is between 184.60 and 185.85

Trend forecast: Bullish

The GBPJPY pair formed a strong bullish rally, surpassing the initial target at 216.55, recording big gains by approaching the main target near 217.55, which forces it to form corrective rebound near 216.55.

Note that the stability of the trading above 215.85 level will provide a chance to renew the bullish attempts, to expect gathering positive momentum in the current trading, reaching the target at 217.55, and surpassing it might extend the trading towards 217.90 reaching the next resistance at 218.60, while the risk of activating the negative trend required holding for four hours below 214.50 level.

The expected trading range for today is between 215.80 and 217.55

Trend forecast: Bullish