Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: price to test the nearest resistance
The 55 Moving Average has acted as resistance, but there's a 'V-Top' pattern, so the price is likely going to test the nearest resistance at 1.2882 in the coming hours. The subsequent pullback from this level could be a starting point for a decline towards the next support at 1.2784.
The pair is consolidating under the Moving Averages. Also, there's a 'Double Bottom' pattern. Under this circumstances, the market is likely going to reach the previously tested resistance at 1.2882 - 1.2921. If a pullback from this area happens next, there'll be time for another bearish price movement.
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.