Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Bottom' pushing price higher
There's a 'V-Bottom', which pushed the price higher. Also, we've got a 'Pennant', so the pair is likely going to reach the nearest resistance at 1.3216 - 1.3257. A pullback from this area could be a starting point for a downward correction to 1.3146 - 1.3114.
The last 'Pennant' has been broken, but the market is testing the closest resistance at 1.3193. So, there's an opportunity to have a local correction to 1.3149 - 1.3109. If a pullback from this area happens next, there'll be time for another bullish rally.
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.