The EURUSD pair declined during recent intraday trading after successfully easing its oversold conditions on the relative strength indicators which entered heavily overbought territory relative to price action, with a negative crossover starting to appear, clearly signaling fading positive momentum that had supported the pair earlier, as the pair is now preparing to break below the 1.1445 support level, amid the dominance of the main short-term downtrend.
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Despite the continuation of the main indicators’ contradiction, the stability of the GBPAUD price above 1.9055 level supports our previously expected bullish scenario, recording extra gains by reaching 1.9400.
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