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Technical Analysis: USD/CAD - GBP/USD

STO

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USD/CAD

The USD/CAD pair was broken through a number of strong psychological support levels (1.3400, 1.3300, 1.3200) and has dropped down to its 5-months minimum and started to correct. It is believed that CAD still has potential to consolidate.



Support and resistance
Support levels: 1.3315, 1.3260, 1.3175, 1.3050.
Resistance levels: 1.3400, 1.3450, 1.3535, 1.3600.

GBP/USD

The GBP/USD pair continues to be unstable, especially in view of political events in the UK. Yesterday, it dropped to the support level of 1.2600 during early trading and moved up to 1.2700 after the promises of Prime Minister Theresa May to organize a mild Brexit procedure.



Support and resistance
Support levels: 1.2635, 1.2600.
Resistance levels: 1.2700, 1.2750, 1.2780, 1.2800.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-usdcad-gbpusd/?camp=24219
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