May 14, 2013
Forex: GBP/CAD supported 1.5480
FXstreet.com (London) - The Canadian dollar had been suffering in the light of a poorer economic outlook, certainly in comparison to its southern neighbour. Albeit, it has had a much better run on crosses yesterday, but only to have retraced part of its gains against Sterling with a high of 1.5520 in the European session. It has now resumed trading back in the top end of the 1.5400 territories with a high percentage drop in the past hour to 1.5467. With only second tier data out today, USD/CAD is expected by the market to remain in a range 1.0080/1.0130 which would equate to a weaker cross, given the moves in cable to yet even lower levels. Support 1.5480 and 1.5440 to make way for 1.5390.