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Dollar selling picks up pace. GBP leads, EUR follows, CAD could be next

Dollar selling is picking up pace in early European session.

GBP/USD leads the way higher ahead of UK job data. Hitting as high as 1.4374 so far. It’s on track for 1.4519 projection level.

EUR/USD finally makes up its mind and breaks 1.2396. Trend line resistance at 1.2429 is the first hurdle. But we’d expect an easy break there to 1.2475.

And, USD/CAD could be the next one coming. A break of 1.2544 temporary low looks around the corner.

 

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