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15 May 2013
Forex: GBP/CAD – above 1.5500 handle, prints higher in London open
FXstreet.com (London) - GBP/CAD had started off the week on a bad foot, printing as low as 1.5436 falling from 1.5567 losing 131 pips in a session.
It has since collected back 100 pips and opened in London back above the 1.55 handle as the dollar took the funds through 1.0200 adding to the pairs best performance over the past six months. EMA’s offer bullish signals until SMAS 100 1.5524 with further resistance at the SMA200 of 1.5583. The market is awaiting the BoE Inflation report coming up at 10.30BSt with the unemployment number arriving in the next few minutes. The market is waiting to see if number will surprise positively as the rest of the UK data has done so lately. Support on pivot 1.5486 and 1.5440.
It has since collected back 100 pips and opened in London back above the 1.55 handle as the dollar took the funds through 1.0200 adding to the pairs best performance over the past six months. EMA’s offer bullish signals until SMAS 100 1.5524 with further resistance at the SMA200 of 1.5583. The market is awaiting the BoE Inflation report coming up at 10.30BSt with the unemployment number arriving in the next few minutes. The market is waiting to see if number will surprise positively as the rest of the UK data has done so lately. Support on pivot 1.5486 and 1.5440.