Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: pair under Moving Averages
There's a 'Double Bottom' pattern, which has been confirmed, so the price is rising. The next bullish target is the nearest resistance at 1.2852 - 1.2883. The subsequent pullback from these levels could be a starting point for a bearish correction towards the closest support at 1.2784 - 1.2763.
All the Moving Averages have been broken. It's likely that the pair is going to test the next resistance at 1.2849 - 1.2863 soon. If a pullback from this area forms next, there'll be an opportunity to have a decline in the direction of 1.2805 - 1.2795.
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.