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2 Jan 2015
GBP/CAD hits fresh daily lows after Downbeat UK Manufacturing PMI
FXStreet (Mumbai) - The British pound drifted lower versus the Canadian dollar in the mid-European session, extended losses from the Asian session after below estimates UK manufacturing PMI print.
The GBP/CAD pair hit a fresh day’s low at 1.8032 levels, after the UK manufacturing sector reading showed worsening trend in the Britain’s manufacturing activities coming out lower than industry’s expectations. Moreover, the losses in the loonie pair also failed to lend support to the GBP/CAD cross. The USD/CAD pair trades at 1.1656 levels, up 0.32% on the day.
Currently, the GBP/CAD cross traded at 1.8049, -0.28% lower on the day.
GBP/CAD Technical Levels
To the upside, the next resistance is located at 1.8099 levels and above which it could extend gains to 1.8126 levels. To the downside, immediate support might be located at 1.8 levels and below that at 1.7994 levels
The GBP/CAD pair hit a fresh day’s low at 1.8032 levels, after the UK manufacturing sector reading showed worsening trend in the Britain’s manufacturing activities coming out lower than industry’s expectations. Moreover, the losses in the loonie pair also failed to lend support to the GBP/CAD cross. The USD/CAD pair trades at 1.1656 levels, up 0.32% on the day.
Currently, the GBP/CAD cross traded at 1.8049, -0.28% lower on the day.
GBP/CAD Technical Levels
To the upside, the next resistance is located at 1.8099 levels and above which it could extend gains to 1.8126 levels. To the downside, immediate support might be located at 1.8 levels and below that at 1.7994 levels