While former couple Rachel McAdams and Ryan Gosling made headlines this summer after a little bit of PDA in Toronto, a source tells PEOPLE the two actors are both “openly single” right now.

Gosling “is still close to McAdams’s family and he still speaks to Rachel, but they are both openly single,” the source says. “He still loves Rachel and Rachel still loves him, but the timing is off and they can’t make each other happy right now.”

The two actors are staying busy during their time apart. McAdams, 32, is currently in London filming Guy Ritchie’s Sherlock Holmes with Robert Downey Jr. and Jude Law. In the film, she plays Irene Adler, one of the Holmes series’ most famous female characters.

The actress also took a break from filming Monday to take in some shopping in London’s West End, where she browsed England’s latest fashion offerings.

Meanwhile, Gosling, 28, spends his time in L.A., where he has settled into an almost weekly deejay gig at L.A.’s Bardot. (McAdams stopped by his debut gig back in July.) The venture has also inspired him to branch out for a career in music.

“Gosling is all about making music because he’s putting out a record,” the source says. “He spends a lot of time recording.”

But not having McAdams in his life isn’t keeping Gosling down.

“He has been flirting with a lot of girls in L.A. and weighing the options!” says the source.

Source