Daily Fib target 1.50535 about 872 pips from current level (20/06/2022).
Working with future daily low at 1.55035 about 430 pips from current price.
Market is in downtrend, broke monthly support and tested as resistance. Sellers showed sign of strength pushing price lower.
We at resistance, will be selling counter trend break bearish for the next 430 pips as long as sellers stay in control.
According to fundamentals market in favour of CAD.
1) CAD interest rate 1.55 ; GBP interest rate 1.25%
2) CAD inflation rate 6.8 ; GBP inflation rate 9
Working with future daily low at 1.55035 about 430 pips from current price.
Market is in downtrend, broke monthly support and tested as resistance. Sellers showed sign of strength pushing price lower.
We at resistance, will be selling counter trend break bearish for the next 430 pips as long as sellers stay in control.
According to fundamentals market in favour of CAD.
1) CAD interest rate 1.55 ; GBP interest rate 1.25%
2) CAD inflation rate 6.8 ; GBP inflation rate 9