The GBP/USD pair, which represents the Great Britain Pound versus the US Dollar, is currently approaching a resistance level. The pair is trading within the Ichimoku Cloud, indicating a sideways trend. We may see a test of the upper boundary of the Cloud at 1.2495, followed by a potential decline to 1.2305. A clear signal of a downward move would be a bounce off the upper boundary of the bearish channel. However, if the pair breaks above the upper boundary of the Cloud and holds above 1.2565, it could signal further upside towards 1.2655. Conversely, a break below the lower boundary of the bullish channel and a close below 1.2415 would confirm a downtrend.
The USD/CAD pair, which pits the US Dollar against the Canadian Dollar, is rebounding from the Tenkan-Sen line. It is currently below the Ichimoku Cloud, suggesting a bearish trend. A test of the lower boundary of the Cloud at 1.3695 is likely, with a potential decline to 1.3575. A bounce off the upper boundary of the bearish channel would further confirm the downtrend. On the other hand, a breakout above the upper boundary of the Cloud and a close above 1.3780 could lead to a move towards 1.3870. A break below the lower boundary of the bullish channel and a close below 1.3640 would confirm a continuation of the downtrend.
Lastly, the USD/CHF pair, which features the US Dollar against the Swiss Franc, has broken out of a correction channel and is trading above the Ichimoku Cloud, indicating an uptrend. We may see a test of the upper boundary of the Cloud at 0.9105, followed by a potential rise to 0.9225. A bounce off the lower boundary of the bullish channel would further confirm the uptrend. However, a break below the lower boundary of the Cloud and a close below 0.9045 could signal a decline towards 0.8955.