USDCAD looks to be trapped in a wedge formation between 1.2450 and 1.2550 levels. The Canadian inflation report will be released at the opening of today NY session and is likely going to gather most of traders attention. The data is important for the Bank Of Canada to evaluate before deciding on the next move on rates.
GBPUSD hasn't been able to move below yesterday low and seems stuck at support 1.3150 price level. This is despite retail sales report came out worse than expectations and showing a weak local consumption.
GBPUSD couldn't find follow through after breaking out from a support level on the 1 hour chart. The released average earnings report in the UK today came out solid and has limited the downside move for the Pound. UK retail sales is scheduled for tomorrow release and could help the Pound to recover some losses if it comes good.