Technical Overview of EUR/CAD and GBP/USD Currency Pairs

EURCAD

EUR CAD

The EUR traded higher against the CAD and closed at 1.5076.

The Pair Formed 
1- Mother bar in side bar @ monthly and Weekly Pivot levels.
2- A 127 Extension @ either side may result in a mid-term trend formation.
3- It’s also in confluence with Pivot High Trend Lines.

According to the Analysis, The pair is expected to find support at 1.50427, and a fall through could take it to the next support level of 1.50095. The pair is expected to find its first resistance at 1.50973, and a rise through could take it to the next resistance level of 1.51187.

EUR CAD Previous Day range was 54.6 and Current Day Range is 20.4.

GBP USD

GBPUSD

The GBP traded lower against the USD and closed at 1.3071.

1- The Pair formed a mother bar inside bar.
2- It’s in between the Quarterly and Yearly Pivots.
3- Making Series of HH HL.

Scenarios:

1- As we see that the pair is making Series of HH HL.
So if we have a break of mother bar high then we may resume uptrend.
2- If we have a break of H4 down trendline then we can expect bearish movements.

The pair is expected to find support at 1.30293, and a fall through could take it to the next support level of 1.29881. The pair is expected to find its first resistance at 1.31216, and a rise through could take it to the next resistance level of 1.31727.

GBP USD previous Day range was 92.3 and Current Day Range is 15.4.

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