The GBP/USD price edged lower in latest intraday trading, continuing the downward correctional trend as it trades within a price channel in the short term, with ongoing negative pressure due to trading below the 50-candle SMA, coupled with negative signals from the Stochastic despite reaching oversold levels.

The USD/JPY price edged higher in latest intraday trading, about to finish a harmonic pattern that’s forming in the short term, the Gartley pattern, which is a negative pattern and boosts the odds of decline, especially as a negative divergence starts to form in the Stochastic on the daily frame.

It comes as the price trades within an ascending correctional price channel, while trading above the 50-candle SMA.

The USD/CAD price fell in latest intraday trading after bumping into the resistance of the 50-candle SMA, while testing the secondary downward trend line in the short term, as the Stochastic reached overbought levels compared to the price’s movements, hinting at negative divergence would heap more pressure on the price.

The AUD/USD price edged higher in latest intraday trading while exposed to negative pressure after bumping into the resistance of the 50-candle SMA, forcing the price downwards as it tries to gather positive momentum and shake off that negative pressure.

It comes amid the dominance of the main upward trend as the price trades alongside the trend line, while the Stochastic reached oversold levels compared to the price’s movements, hinting at a positive divergence which would boost the upward scenario.