The GBP/USD pair edged lower in latest intraday trading after bumping into the resistance of the 50-candle SMA, heaping more selling pressures, and coinciding with the emergence of negative signals from the Stochastic after reaching overbought levels, while the price is also hurt by the negative Rising Wedge pattern, which boosts the odds of more losses.

The USD/JPY price settled slightly higher in latest intraday trading, while moving within an upward correctional price channel in the short term, as the price also benefits from positive support due to trading above the 50-candle SMA.

We also see positive signals emerging from the Stochastic after reaching oversold levels compared to the price’s movements, hinting at positive divergence, which boosts the upward scenario.

The USD/CAD price fell in latest intraday trading, while trading within a descending secondary price channel in the short term, with negative signals from the Stochastic, coupled with ongoing negative pressure due to trading below the 50-candle SMA.

The AUD/USD price inched higher in latest intraday trading amid the dominance of the main upward trend in the short term as the price trades alongside the trend line, while buoyed by piercing a downward correctional trend line, thus tackling the resistance of $0.6305, which represents the neckline of the positive Head and Shoulders pattern that’s contradictory to the downward correctional trend.

However, the price continues to suffer pressure due to trading below the 50-candle SMA, with negative signals from the Stochastic after reaching overbought levels, representing a strong obstacle to recovery.