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FxGrow Daily Technical Analysis – 17th Feb, 2016
By FxGrow Research & Analysis Team
GBPCAD - lowest since 7 months
Since mid-January GBPCAD moves in a downtrend. Price moved above support 1.9890 until yesterday. Support was broke below and price continues its declines. Next support at 0.9730 also wasn't able to stop further depreciation, due to this current goal for bears is 1.9480 level. Today's macroeconomic data from UK labour market were weak and did not help with rebound. The unemployment rate stayed at 5,1% in December versus forecasted 5%.
To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
GBPCAD - lowest since 7 months
Since mid-January GBPCAD moves in a downtrend. Price moved above support 1.9890 until yesterday. Support was broke below and price continues its declines. Next support at 0.9730 also wasn't able to stop further depreciation, due to this current goal for bears is 1.9480 level. Today's macroeconomic data from UK labour market were weak and did not help with rebound. The unemployment rate stayed at 5,1% in December versus forecasted 5%.
To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.