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14 Apr 2015
GBP/CAD: 1.82 major level on the cards - TDS
FXStreet (Guatemala) - Analysts at TD Securities offered the GBP/CAD cross in a technical snapshot.
Key Quotes:
"GBP/CAD has stabilized so far this week but the GBP has not done nearly enough to convince us that the short-term trend has changed."
"Near-term risks are geared to the downside but we are getting closer to levels (1.83 or a little below) to effectively retest the big, bull break out in the cross seen at the start of the year."
"A push to the upper 1.82 area remains on the cards—the trend lower remains intact and well entrenched—but we would expect bargain hunters to start showing signs of interest on GBP weakness near those levels."
"We see firm resistance above 1.8650 (bullish above) from here."
Key Quotes:
"GBP/CAD has stabilized so far this week but the GBP has not done nearly enough to convince us that the short-term trend has changed."
"Near-term risks are geared to the downside but we are getting closer to levels (1.83 or a little below) to effectively retest the big, bull break out in the cross seen at the start of the year."
"A push to the upper 1.82 area remains on the cards—the trend lower remains intact and well entrenched—but we would expect bargain hunters to start showing signs of interest on GBP weakness near those levels."
"We see firm resistance above 1.8650 (bullish above) from here."