The USD/JPY pair advanced in intraday trading after leaning on the support of the 50-candle SMA, accompanied by positive signals from the Stochastic after a short trip downwards in search for a bottom that would boost the price and grant it momentum to help maintain the upward correctional trend in the short term.
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The GBP/USD pair fell in intraday trading in an attempt to garner positive momentum and rebound once again, while leaning on the support of a limited and secondary ascending price channel, coinciding with also leaning on the support of the 50-candle SMA, as positive signals start streaming out of the Stochastic after it reached oversold levels.
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The EUR/USD pair edged higher in intraday trading after the pivotal support of $1.0820 held on, which represents the neckline of a negative technical pattern that formed in the short term, the Double Top pattern, lending the price some positive momentum which helped it pare some earlier losses, while the price also tries to vent off oversold saturation in the Stochastic as it starts to send out positive signals.
It comes after the price pierced a secondary upward trend line, trespassing with this negative move the 50-candle SMA and exposing the price to mounting pressure, with an increasing potential for the downward correctional trend to dominate upcoming trading.
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Ethereum price gained ground in intraday trading, after the pivotal support of $1960 held on, lending the price some positive momentum which could help it rebound, especially as the price moves alongside an upward correctional trend line in the short term, while buoyed by continuous trading above the 50-candle SMA.
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