EURUSD remains in downtrend from 1.1366, the price action from 1.0518 is likely consolidation of the downtrend. Further decline to test 1.0462 (Mar 13, 2015 low) support is possible, and a breakdown below this level will indicate that the long term downtrend from 1.3993 (May 8, 2014 high) has resumed, then the following downward movement could bring price to 0.9500 zone. Near term resistance is at 1.0873, only break above this level could bring price back to 1.1400 zone.
Following a failed descending triangle formation, the pound is now clearly trying to reverse its long-term trend versus the Canadian dollar. The impending switch to an uptrend is signaled by the double bottom pattern on the weekly timeframe.
You can see the bottoms and the neckline marked by the yellow lines on the chart below. The cyan …