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The phrase "are currently observing" is correct and usable in written English.
It can be used when describing an ongoing action or situation that is happening at the present time.
Example: "We are currently observing the effects of climate change on local wildlife populations."
Alternatives: "are presently monitoring" or "are in the process of observing".
Dictionary
are currently observing
adverb
At this moment, at present, now.
synonyms
Exact(3)
Northern Ireland's main guerrilla groups are currently observing a cease-fire.
"Scenarios of energy use and CO2 emissions did not foresee the high levels of economic growth that we are currently observing," says geochemist and co-author Gregg Marland of Oak Ridge National Laboratory in Tennessee.
We are currently observing our patient, who seems to be improving.
Similar(57)
Both decline in precipitation and increase in temperature are currently observed in the woreda.
They are currently observed out to redshift z≈7 when the Universe was less than one tenth of its present age.
Data to workforce, equipment, and the overall site safety performance are currently observed, measured, and evaluated almost always manually.
The reflective zones we found are likely located at the down-dip end of the locked zone, where high slip deficit rates are currently observed.
Around the southernmost ISTL, a strongly coupled zone outlined by geodetic measurements and seismic profiles used in this paper cross the zone where large slip deficit rates are currently observed (Suito and Ozawa 2009).
Fry and Stark (1993) point out that this is largely because of processing delays that resulted in payments being made in arrears so that some households are currently observed to be in receipt for Housing Benefit but not entitled on the basis of current circumstances.
The reflective zones we found are likely located at the down-dip end of the locked zone where high slip deficit rates are currently observed, which may suggest that the reflective zone with high water content delimits the down-dip end of the coseismic rupture zone.
Some high outdoor air pollution concentrations are currently observed in China.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com