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Kenny Fisher
Forex Markets Currency Trading Concept.

GBP/USD is trading sideways on Wednesday. In the North American session, the pair is trading at 1.2874, up 0.07% on the day.

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Technical Analysis

GBP/USD continues to trade close to the 1.2870 line. The pair has been unable to consolidate above this line. On the upside, there is resistance at 1.2940. On the downside, there is support at 1.2810. This line was tested last week.

GBPUSD 1-Day Chart


USD/CAD is posted sharp gains in the North American session. Currently, the pair is trading at 1.3180, up 0.69% on the day.  The pair is currently at its highest level since October 17.

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Technical Analysis

USD/CAD is showing a stark trend reversal and has posted strong gains on Wednesday. The pair punched above resistance at 1.3120 earlier in the day and is currently putting pressure on resistance at the round number of 1.3200. This line was last tested in mid-October. I am keeping an eye on the 50-EMA line, which is at 1.3193. If the pair breaks above this line, it would be a bullish signal for the pair.

USD/CAD 1-Day Chart


EUR/GBP is flat in Wednesday trade. In the North American session, the pair is trading at 0.8638, down 0.01% on the day.

Technical Analysis

EUR/GBP continues to hover around the line 0.8647, which is currently an immediate resistance line. The pair has been trading sideways since late last week. and the lack of a trend could continue for the rest of the week. 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.

EUR/GBP 1-Day Chart
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