Sterling-Canadian dollar retreats 18 pips from 6 months high

Published: November 25 2022, 12:46 GMT+0

Sterling-Canadian dollar retreats 18 pips from 6 months high

GBP/CAD rallied to 1.617, hitting its highest point in 6 months. It later lost 18 pips and is now trading at 1.6151.

Meanwhile, United Kingdom CBI Industrial Trends Orders (Nov) released yesterday at 11:00 UTC with a figure of -5, while the previous figure was -4.

A look at other currencies also shows bullish price action as USD/JPY is up 0.52%. USD/CHF is up 0.34%. EUR/JPY is up 0.31% to 144.7.

Furthermore, the market is looking at United Kingdom CFTC GBP speculative net positions is scheduled for today at 19:30 UTC.

After setting a supportive marker at 1.4665 around a month ago, Sterling-Canadian dollar is now trading 10.13% above this level.

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