The pair was stuck between the support 1.2885 from the downside and Linear Regression Indicators from the upside. EUR/USD stabilized below the resistance 1.2960 forcing us to keep our negative expectations. As showing on graph, momentum indicators are positive which require stability below the support 1.2885 to cancel any possibility of responding with these indicators.
In fact, we should not ignore the possibility of reacting to the oversold signals if the pair breached 1.2960; meanwhile, breaching this level won't push us to be positive as it requires a break above 1.3020 and 1.3050 and without that, the negative bias remains valid in the upcoming period.
GBP/USD - European Session
The pair is fluctuating around 1.6195 where it found a good minor resistance, and is affected by the positivity of momentum indicators, while the overall downside move remains valid by stabilizing below 1.6285 and the awaited target resides at 1.6000. A break above 1.6285 levels halts the negative expectations and pushes the pair towards 1.6625.
AUD/USD - European Session
AUD/USD pair is trading in a strong positivity affected by the positive Australian employment data released this morning, whereas the pair is testing the resistance 0.9190 and 0.9225. As referred to in yesterday's reports, stability below these levels keeps the downside move valid intraday waiting to move towards 0.9095 again. A break above the referred resistance triggers attempts to halt the current bearish correction.
