Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Top' pattern led to decline
The market has plunged because of the last 'V-Top' pattern. However, there's a 'Double Bottom', which has been confirmed, so the price is likely going to test the nearest resistance at 1.3143 - 1.3172. A pullback from this area could be a starting point for another bearish rally to 1.3055 - 1.3025.
There's a consolidation, which is taking place under the Moving Averages. It's likely that the pair is going to reach the nearest important resistance at 1.3143 - 1.3172 because of the last 'Double Bottom' pattern. Even so, we should keep an eye on the closest support at 1.3055 - 1.3025 as the next bearish target.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.