Ready for another round of charting?
Check out the channel support on GBP/CHF and a major area of interest on USD/CAD!
How do you think these setups will play out?
GBP/CHF: 1-hour
Trend warriors gather ’round! As you can see, GBP/CHF is testing an ascending channel support that hasn’t been broken since late June.
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.
USD/CAD: Daily
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.
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.