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.

GBPCADDaily.png

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.

GBPCADH4.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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