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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 346293, member: 104606"] [B][SIZE=5]GBP/USD And USD/CAD Daily Chart Outlook[/SIZE][/B] [img]https://i.imgur.com/PbkMsd9.jpeg[/img] [I]GBP/USD is attempting a recovery wave from 1.2300. USD/CAD is consolidating and might aim for a move above the 1.3760 resistance zone.[/I] [B]Important Takeaways for GBP/USD and USD/CAD Analysis Today[/B] [LIST] [*] The British Pound started a recovery wave above the 1.2400 resistance. [*] There is a key bearish trend line forming with resistance near 1.2520 on the daily chart of GBP/USD at FXOpen. [*] USD/CAD is showing positive signs above the 1.3660 support zone. [*] There is a major bullish trend line forming with support at 1.3620 on the daily chart at FXOpen. [/LIST] [B][SIZE=5]GBP/USD Technical Analysis[/SIZE][/B] [img]https://i.imgur.com/nntwWkL.jpeg[/img] On the daily chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2900 zone. The British Pound traded below the 1.2600 support to move into a bearish zone against the US Dollar. The pair even traded below 1.2400 and the 50-day simple moving average. Finally, the bulls appeared near the 1.2300 level. A low was formed near 1.2299 and the pair is now attempting a recovery wave. There was a fresh upside above the 1.2400 level. [B][URL="https://fxopen.com/blog/en/aj-gbp-usd-and-usd-cad-daily-chart-outlook/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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