GBP support and resistance on Oct. 19, 2020

Amid the Brexit, British economy and markets continue to suffer. Let us have a quick look at the performance on GBP against other currencies.

GBP/CHF dropped out of almost a month of consolidation and went downhill

Retesting was performed at 1.18000. The next strongest support is at 1.16500. Brexit continues to put enormous pressure on the pound, as well as an increase in coronavirus infections and the possible re-closure of cities across Britain.
Negotiations on Brexit continue, but the atmosphere is very unpleasant because neither side gives in and does not want to make concessions to the other side.
We have a lot of important economic news for the British pound by the end of the week, so a very changeable period can be expected by the end of the week. On the other hand, the Swiss franc had news of a weaker trade balance than expected, but we do not influence that.

GBP/CAD bearish consolidation and continued to decline

On the daily chart, we see that the pair is re-testing the zone around 1.75600 and has since moved down, making the first pull to 1.72700 and continuing down again. We can find potential support around 1.69500, and this price level is likely to break and remain around 1.65400.
The pound will be burdened with economic news from its backyard this week, as well as Brexit and an increase in the number of people infected with the coronavirus. Although Canadians will have their reports on the basic consumer price index tomorrow, the report should generally be positive and positively impact the Canadian currency.