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USD/CAD correction might extend to 1.20 – SG

FXStreet (Barcelona) - Technical Analysts at Societe Generale, note that technicals suggest USD/CAD correction might extend further towards 1.20 levels.

Key Quotes

“USD/CAD has violated a two month consolidation zone and the (nearly) horizontal support of 1.24. It has confirmed a head and- shoulder pattern. With the daily RSI breaching a horizontal support, the corrective move should extend further towards 1.22 and even 1.20, the monthly channel limit.”

EUR/GBP turns negative on UK data

The pound holds mild gains versus the shared currency in the European session; turning EUR/GBP in red on the 0.72 handle, as sterling gained momentum after UK’s data which showed that jobless rate in the Kingdom fell while wages ticked up slightly in February.
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SEB: GBP/USD challenging the 1.4970/1.5008 resistance - eFXnews

The eFXnews Team shares SEB’s intraday technical outlook for GBP/USD, with SEB viewing a high probability of a move above 1.5008.
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