Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: pair to test the next resistance
The market is consolidating between the levels 1.3072 - 1.3174. Also, there's a 'Double Bottom' pattern, which has been confirmed. Therefore, we should keep an eye on the next resistance at 1.3193 as an intraday target. If a pullback from this level happens next, bears will probably try to reach the closest support at 1.3047 - 1.3032.
There's a 'Thorn' pattern, which has been formed above the 89 Moving Average. Thus, the pair is likely going to achieve the nearest resistance at 1.3174 - 1.3199. The subsequent pullback from this area could lead to a decline towards the last low.
Sergey Logachev
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Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
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Technical analysis of the USD/CAD
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This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
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After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.
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