Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'Flag' points to another bullish rally
There's a 'V-Top', so the price is declining. Even so, we should keep watching the nearest resistance at 1.3181 as the next bullish target. The following pullback from this level could lead to a downward correction to 1.3089 - 1.3047.
It seems like there's a 'Flag' pattern, which is about to end. In this case, it's likely that the pair is going to reach the closest resistance at 1.3181 within the next few hours. If a pullback from this level forms little later on, bears will probably try to deliver a downward correction.
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.