21 Jan 2015
GBP/CAD falls on Surprise MPC Vote
FXStreet (Mumbai) - The British pound fell against the Canadian counterpart, as the release of the BoE minutes showed the MPC reunite to keep the interest rates at record low of 0.5%.
Currently, the GBP/CAD pair traded at 1.8268 levels, down -0.42% on the day, having hit fresh session lows at 1.8251 levels few minutes ago. The pound lost ground versus the Canadian counterpart after the Bank of England (BoE) minutes delivered a unanimous vote, with the interest rate being held at a record low of 0.5%. Moreover, upbeat labor data with higher wage growth failed to support the British currency.
Meanwhile, traders now await Bank of Canada’s (BOC) rate decision later in the day for further momentum on the cross.
GBP/CAD Technical Levels
To the upside, the next resistance is located at 1.8338 levels and above which it could extend gains 1.8401 levels. To the downside immediate support might be located at 1.8200 levels, below that at 1.8153 levels.
Currently, the GBP/CAD pair traded at 1.8268 levels, down -0.42% on the day, having hit fresh session lows at 1.8251 levels few minutes ago. The pound lost ground versus the Canadian counterpart after the Bank of England (BoE) minutes delivered a unanimous vote, with the interest rate being held at a record low of 0.5%. Moreover, upbeat labor data with higher wage growth failed to support the British currency.
Meanwhile, traders now await Bank of Canada’s (BOC) rate decision later in the day for further momentum on the cross.
GBP/CAD Technical Levels
To the upside, the next resistance is located at 1.8338 levels and above which it could extend gains 1.8401 levels. To the downside immediate support might be located at 1.8200 levels, below that at 1.8153 levels.