The EURUSD pair extended its losses during recent intraday trading, breaking below the key support level of 1.1500. The pair remains under the control of a short-term bearish trend, with additional negative pressure coming from trading below EMA50, which continues to reinforce the downside bias. Negative signals from the relative strength indicators also support the bearish outlook, despite the indicators reaching deeply oversold levels.
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The EURGBP pair ended yesterday’s trading by breaking above the resistance of the descending minor channel at 0.8640, attempting to confirm its transition into a bullish path. The pair recorded some gains, reaching the 0.8660 level.
MoreThe pair’s price did not hold for long above the firm barrier at 185.80, affected by the negative US data, which forced it to postpone the bullish attack and form negative corrective waves, targeting the 184.60 level.
MoreThe pair’s price maintained its position below the firm resistance at 215.50 during yesterday’s trading, forcing it to form several corrective waves by targeting the 213.15 level, before attempting to stabilize again above the initial support level located at 213.50.
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