GBP/USD, EUR/GBP, USD/CAD – North American Session Daily Forecast

GBP/USD has posted slight gains on Tuesday. In the North American session, the pair is trading at 1.2890, up 0.27% on the day.

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Technical Analysis

GBP/USD has pushed past resistance at 1.2870 on Tuesday. Traders should note that the 50-EMA line broke on Monday, but the line continues to act as immediate support for the pair. The next support line is at 1.2180. On the upside, there is resistance at 1.2940. This line was tested last week.

USD/CAD

USD/CAD is posted slight gains in the North American session. Currently, the pair is trading at 1.3079, up 0.18% on the day.  Investors will be keeping a close eye on the Bank of Canada, which is expected to maintain the benchmark rate at 1.75%.

Technical Analysis

USD/CAD tested support at 1.3040 in the European session, but this line remains in place. The primary trend is down, and I expect the downward pressure to continue on the 1.3040 line. On the upside, there is resistance at 1.3175.

EUR/GBP

EUR/GBP remains range-bound this week. In the North American session, the pair is trading at 0.8621, down 0.14% on the day. There are no eurozone events on the calendar, so traders can expect the pair to have a quiet day.

Technical Analysis

EUR/GBP continues to put pressure on resistance at 0.8647. Above, we find resistance at the round number of 0.8700. On the downside, there is support at 0.8580, which was tested last week.