Ready for another round of charting?
How do you think these setups will play out?
Trend warriors gather ’round! As you can see, GBP/CHF is testing an ascending channel support that hasn’t been broken since late June.Can pound bulls extend the pair’s uptrend today? Buying at the first signs of bullish momentum would give you the best reward-to-risk ratio if GBP/CHF ends up hitting its previous highs near 1.1900.
If you believe that the pound’s downswing will finally force a breakdown (downside break), however, then you can also wait for a clear break below the channel support and then aim for previous support levels closer to 1.1760 and 1.1740.
Support alert! USD/CAD is heading fast towards the 1.3300 – 1.3350 zone, which has served as a MAJOR area of interest for the pair.Are bulls waiting to attack at the level? The currency pair is still a few pips away from the area so y’all still have time to design trading plans if you’re aiming to trade an upswing for the U.S. dollar.
Think the dollar will continue to lose pips against the Loonie this week? You can wait and see how USD/CAD reacts to a test of the 1.3300 support zone and then target the 1.3000 – 1.3100 levels if the bearish pressure doesn’t lose momentum.
Watch this one closely, will ya?