GBP/USD Will Likely Start Falling Again

GBP/USD reached the resistance at 1.4470 and formed a doji candlestick on the daily time-frame below that level. This means that is quite likely that the pair will start moving to the downside again, its first target being around 1.4280. Should it break below that level I think we can expect a further drop towards the next support around 1.4100. All that said, we should, of course, take into consideration that tomorrow is the first Friday of April, which means that the US change in the Non-farm payrolls will be announced, so this prognosis might change depending on the results of the fundamentals.

USD/CAD Is Testing the Support

 USD/CAD is currently testing the support at 1.2922, which is also the previous low the pair had reached. In my opinion, the pair is very likely to break below that level. Should this happen, we can probably expect a further move to the downside towards the next level of support, which is at 1.2640 and coincides with (MA)89 on the weekly time-frame. The question is whether the pair will be able to break below that support too, because if it does it will probably reach the monthly support at 1.2550. For now I have opened short positions, and depending on whether or not the pair breaks below 1.2922 I might open more in the future.

EUR/GBP Will Likely Start Climbing Again

After EUR/GBP reached the resistance at 0.7945 and bounced off of it, the pair started falling and eventually reached support at 0.7840, which coincides with (MA)89 on the four-hour time-frame. Here the pair has formed an inverted hammer candlestick and it is very likely that it will start moving to the upside again so it can test the aforementioned resistance at 0.7945 which it hasn’t been able to break above for six weeks now. On the other hand, if the signal for a new move to the upside proves false and the pair breaks below 0.7840, we can likely expect it to fall towards the next support at 0.7700.