Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 34 Moving Average acted as support
The 34 Moving Average has acted as support, but the market is likely going to test another support at 1.2839 - 1.2814 in the coming hours. If a pullback from this area happens next, bulls will probably try to reach the next resistance at 1.2946 - 1.2957, which was tested earlier.
The market is consolidating along the Moving Averages. The main intraday target is the closest resistance at 1.2897. The subsequent pullback from this level could lead to a decline in the direction of the last locat low, so we should keep an eye on the nearest support at 1.2831 - 1.2818.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.