The USDCAD currency pair has recently displayed resilience as it failed to break below the rising price channel on the weekly chart.

The recent sell-off suggests a bearish bias for GBPUSD, and market participants are anticipating a potential continuation of the downward trend.

The USDCAD pair has recently broken above the falling price channel on the 4-hour chart, indicating a reversal of the downtrend that started from the 1.3667 high.

The pair is now facing a critical support level at 1.2435, and a break below this level could confirm that the upside movement from the Mar low of 1.1802 has completed at 1.2679 already.

EURUSD is currently trading in a downtrend after breaking below the key support level at 1.0909, indicating that the upside movement from the March low of 1.0515 has completed at 1.1095.

The pair rebounded from the rising trend line on the 4-hour chart, which has been supporting the price since mid-April.