USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
GBP/USD is under pressure
Information is not investment advice
GBP/USD has been consolidating between 1.3120 and 1.3010. Yesterday the pair broke below the support of the short-term triangle. This level is now providing resistance at 1.3080. The weekly pivot level is also keeping the prices under pressure below 1.3072. The moving averages on H4 are in the bearish position and favor the return of the price to 1.3010 and probably 1.2970.
Fundamentally, the decision to delay Brexit until October 31 may weight on the British pound as it means that the period of uncertainty about Britain’s economic future is extended.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
USD/JPY has recently formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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