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HutsonBay

GBPCAD Short Position

Short
British Pound / Canadian Dollar (OANDA:GBPCAD)  
HutsonBay  
OANDA:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Support and Resistance Trend Lines GBPCAD CAD GBP loonie
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trendanalysis supportandresistance trendline gbpcad cad gbp loonie
High risk trade. Comments from Barnier yesterday confirmed that the EU were prepared to offer the UK a bespoke package to avoid a no deal Brexit.
The rally brings GBPCAD straight back into the daily descending resistance line.
We have a clear zone of sellers waiting to push price back to 1.6591
Following a break of this support, we could expect a leg lower to support at 1.6370
Technicals overrule the market but if Soft Brexit takes over the news networks, GBP may remain bullish.
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