EUR/USD and GBP/USD head lower, while USD/CAD turns upwards

EUR/USD drifts lower, yet trendline could limit losses

EUR/USD has continued its declines over the course of the past week, with the pair heading back into a long term trendline support.

That trendline is likely to continue providing us with an area where the buyers might come in again. As such, further downside could play out over the short term, yet a rebound does look likely before long. A break through the $1.1188 level would bring a wider bullish picture.

GBP/USD tumbles through huge support zone

GBP/USD has slumped over the course of the past week, with the pair hitting the lowest level since early 2017.

That break over the course of the past week has provided us with a move into a zone of little support. As such, with no-deal prospects continuing to hold back the bulls, it looks likely we will see the pair slump heavily over the coming weeks. A break through $1.2522 would negate this bearish view.

USD/CAD uptrend remains intact

USD/CAD has been regaining ground over the past week, with the pair completing a bullish bottoming pattern.

The wider picture remains bearish, yet we are likely to see further gains play out for now. A break below $1.3115 would be required to negate this bullish outlook.


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