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Crude rally inspires technical breakdown for GBP/CAD

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    This week’s mixed-bag UK economic data has caused the pound to fall against most major currencies, including the Canadian dollar which has managed to perform well recently despite the increased volatility in crude oil prices. The relatively strong performance of the Canadian dollar of late suggests that a bottom in crude is either in place or very close, or that the effects of oil price drops are dissipating. But it could also be due to the non-resources sector of the Canadian economy, which

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