Trading GBP/CAD

Trading GBP/CAD

Trade ideas

SELL 1.7015; TP1 1.6960; TP2 1.6925; SL 1.7040

BUY 1.7115; TP1 1.7170; TP2 1.7240; SL 1.7090

Today the Bank of England will announce its statement at 15:00 MT time. Although it’s hard to imagine positive comments for the GBP, anything can happen.


If you want to make use of the volatility related to the pound, you can pick a pair that is not mainstream like GBP/CAD. It came to the resistance line (1.7095) for the third time. There’s room for correction to 1.6960/25 area if the pair slide below 1.7015. On the other hand, an increase above 1.7115 is needed to open the way up to 0.7240. The main scenario is bearish.



How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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