Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: confirmed 'Double Bottom'
There's a confirmed 'Double Bottom', so we're likely going to have an upward correction in the short term. The main target is the nearest resistance at 1.2870 - 1.2896. A pullback from this area could be a starting point for another decline towards the next resistance at 1.2776 - 1.2753.
We've got a 'V-Bottom', which has been confirmed by the last 'Flag' pattern. In this case, it's likely that the pair is going to test the closest important resistance at 1.2870 - 1.2896. If a pullback from these levels happens next, there'll be time for a decline in the direction of another support at 1.2784 - 1.2776.
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.