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Sep 10 - 02:55 PM

GBP: Rallies Likely To Be Sold Enthusiastically For Now; USD/CAD: Upside Potential To 1.35 - TD

By eFXdata  —  Sep 10 - 02:00 PM

TD Research discusses GBP/USD outlook and USD/CAD tactical outlook.

"Sterling remains under considerable pressure with cable now below key support levels. Both the technical and fundamental backdrop look troubling for the pound right now. As such, we still have some room to run before we would look to fade this move. We think rallies are likely to be sold enthusiastically for now," TD notes, 

"While we think the USD’s medium-term direction is down, we think a break above key trendline resistance in USDCAD points to more upside potential toward 1.35," TD adds. 

Source:
TD Bank Research/Market Commentary

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