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Message: [QUOTE="Resolve, post: 240480, member: 29339"] [B][SIZE=5]Market Analysis: GBP/USD Under Pressure, USD/CAD Powers Higher[/SIZE][/B] [img]https://i.imgur.com/hTthBEO.png[/img] GBP/USD started a fresh decline below the 1.2320 zone. USD/CAD is rising and might aim for more gains above the 1.4500 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today · The British Pound started another decline from the 1.2320 resistance zone. · There is a short-term bearish trend line forming with resistance at 1.2205 on the hourly chart of GBP/USD at FXOpen. · USD/CAD is showing positive signs above the 1.4400 support zone. · There is a key bullish trend line forming with support at 1.4420 on the hourly chart at FXOpen. [B][SIZE=5]GBP/USD Technical Analysis[/SIZE][/B] [img]https://i.imgur.com/88wEAHZ.jpeg[/img] On the hourly chart of GBP/USD at FXOpen, the pair struggled to continue higher above the 1.2320 resistance zone. The British Pound started a fresh decline and traded below the 1.2270 support zone against the US Dollar, as discussed in the previous analysis. The pair even traded below 1.2250 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2100 level. The recent swing low was formed at 1.2160 and the pair is now consolidating losses. [B][URL="https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-under-pressure-usd-cad-powers-higher/?utm_source=earnforexforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]

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