Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Top' led to consolidation
The price is rising because of the last 'Thorn' pattern. It's likely that the pair is going to test the next resistance at 1.2877 - 1.2911. A pullback from these levels could lead to another decline.
The last 'V-Top' led to the current consolidation. So, the market is likely going to test the Moving Averages soon. These lines could be a departure point for another bullish rally towards the next resistance at 1.2877.
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.