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30 Jan 2015
GBP/CAD on the way to 2.0000 and beyond? - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted that the GBP/CAD reached their 1.92 short-term target (50% retracement of the 2007/2010 drop).
Key Quotes:
"GBP is still trading around a big figure off the early North American lows. Short-term volatility aside, we think the overall outlook is positive for the GBP still—these minor dips actually provide an opportunity to establish or add to GBP longs."
"The bullish break out from the year-long (more or less) consolidation suggests the broader trend up is resuming; gains are supported by bullish trend momentum signals across a range of timeframes."
"We continue to look for a move above 2.00 further out (2.02 is the 61.8% long-term retracement resistance and 2.17 is our measured move target derived from the wedge break out)."
Key Quotes:
"GBP is still trading around a big figure off the early North American lows. Short-term volatility aside, we think the overall outlook is positive for the GBP still—these minor dips actually provide an opportunity to establish or add to GBP longs."
"The bullish break out from the year-long (more or less) consolidation suggests the broader trend up is resuming; gains are supported by bullish trend momentum signals across a range of timeframes."
"We continue to look for a move above 2.00 further out (2.02 is the 61.8% long-term retracement resistance and 2.17 is our measured move target derived from the wedge break out)."