Earlier today, the U.S. dollar declined against the Swiss franc, which took USD/CHF to the lower border of the rising trend channel. Since the beginning of the month we saw several attempts to break below this line, but all of them ended in the failure of the bears. Will history repeat itself once again?

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At the beginning of the week, the euro extended gains against the greenback, which probably aroused the doubts of many investors about further declines. It could even tempt them to close short positions. Currency bears, however, knew how to use all the available factors to take EUR/USD to lower levels and erase the earlier increase. What else can they do if they show unwavering determination?

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Yesterday’s session took GBP/USD under important long-term support line. Earlier today, the situation worsened even more when currency bears pushed the exchange rate to a fresh 2018 low. What’s next with the relationship between the British pound and the greenback?

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The highlight of the previous week was the breakout above the very long-term resistance line based on the peaks created in the second half of 2015. Is it possible that the correction that we observed in recent days thwarted the pro-growth scenario?

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Earlier today, the British pound extended gains against the greenback, which resulted in a climb to the previously-broken lower line of the trend channel. Is this just a verification of the breakdown or something more?

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