Daily Market Analysis

The pound is affected by Brexit uncertainty and may slide even lower.

On H4, we can see that the pair fixed below the line connecting the lows of April and May in the area of 1.1180.

There're bearish patterns such a 'High Wave' and a 'Harami', which both have been confirmed.

There's a 'V-Bottom' pattern, which led to the current upward price movement…

USD/CAD met resistance in the 1.3490 area (resistance line connecting April and May highs).

It seems that EUR/GBP has finally broken out of the range within which it was trading in March and April.

We've got a 'Three Methods' pattern, so the market is likely going to test the next support at 1.2777 in the short term...

There's a bearish 'Pennant' pattern, so it's likely that the market is going to reach the next support...

The US dollar strengthened versus the Chinese yuan as the trade deal between the United States and China met unexpected obstacles.

GBP/CAD met the resistance of the 50-month MA in the 1.7765 area.

There's a 'Double Top' pattern, which has been confirmed, so the price is likely going to test the nearest support at 0.6543 in the short term...

GBP/USD formed a lower high just above 1.30 (psychological level, 50-week MA).