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23 Jan 2015
GBP/CAD breaks above 1.8600 post UK data
FXStreet (Mumbai) - The British pound shaved off previous losses versus and traded steady versus the Canadian counterpart as traders digested cheerful UK retail volumes data.
Currently, the GBP/CAD pair traded flat 1.8595 levels, having posted fresh session highs at 1.8608 levels few minutes ago. The pound regains lost territory versus the Canadian counterpart after higher-than-expected retail sales for December boosted the sterling.
Meanwhile, traders now await Canada’s CPI print later in the day for further momentum on the cross.
GBP/CAD Technical Levels
To the upside, the next resistance is located at 1.8650 levels and above which it could extend gains 1.8700 levels. To the downside immediate support might be located at 1.8500 levels, below that at 1.8472 levels.
Currently, the GBP/CAD pair traded flat 1.8595 levels, having posted fresh session highs at 1.8608 levels few minutes ago. The pound regains lost territory versus the Canadian counterpart after higher-than-expected retail sales for December boosted the sterling.
Meanwhile, traders now await Canada’s CPI print later in the day for further momentum on the cross.
GBP/CAD Technical Levels
To the upside, the next resistance is located at 1.8650 levels and above which it could extend gains 1.8700 levels. To the downside immediate support might be located at 1.8500 levels, below that at 1.8472 levels.