Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Bottom' pushed price higher
The last 'V-Bottom' led to the current upward price movement. The main intraday target is the next resistance at 1.3189 - 1.3216. If a pullback from these levels happens next, we're going to have a bearish correction towards the closest support at 1.3101 - 1.3082.
All the Moving Averages have been broken, so the price is consolidating. It's likely that the market is going to reach the nearest resistance at 1.3189 - 1.3216. Meanwhile, if we see a pullback from this area little later on, bears will probably try to achieve the 55 Moving Average.
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.