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26 Feb 2015
GBP/CAD retains heavyness - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that GBP/CAD retains a heavy bias after the early week drop back from the mid 1.95s.
Key Quotes:
"Intraday price action today is weak, with the late morning sell-off in the GBP driving the cross below minor trend support, which may also represent the neckline of a minor Head & Shoulders top."
"We noted yesterday that corrective forces could push GBP/CAD back to the 1.90 area; we may have to allow for a drop to the high 1.88s if the GBP does manage to sustain a break below 1.9270 near-term."
Key Quotes:
"Intraday price action today is weak, with the late morning sell-off in the GBP driving the cross below minor trend support, which may also represent the neckline of a minor Head & Shoulders top."
"We noted yesterday that corrective forces could push GBP/CAD back to the 1.90 area; we may have to allow for a drop to the high 1.88s if the GBP does manage to sustain a break below 1.9270 near-term."