Looking at GBP to fall in regards to Cad this has been the year for commodity currencies and though cad has been the weakest of the com dolls yet when paired with GBP it has a been more stable, with GBP on going turmoil their currency has in a whipsaw motion with sudden burst of vol.
Near the price range labeled expensive we have seen prices fail at this confluence area of recent highs, 1SD and the lower half of 250 pip quadrant we remain in a side ways market with 1.70 being fair value and 1.68 being cheap for this pair.
We have seen 1.70 become an accumulation zone though one price leaves these zones price has rebounded with a weaker drive each time, this is followed by lower highs on the yellow short term rate of change and on price.
Price has stayed around the long term white ROC line longer than usual if this continues we should see the bears take control of this pair.
Looking at the IV rank indicator at the bottom we have seen IV rank steadily increase of the last few days though I have labeled it a sell at the moment it must cross 20-25 for this sell to be confirmed .
Over all I am looking to take this pair from current levels to levels considered cheap .
At the time of writing this YOY GBP is up 3.2 percent and cad is down 0.18%
Near the price range labeled expensive we have seen prices fail at this confluence area of recent highs, 1SD and the lower half of 250 pip quadrant we remain in a side ways market with 1.70 being fair value and 1.68 being cheap for this pair.
We have seen 1.70 become an accumulation zone though one price leaves these zones price has rebounded with a weaker drive each time, this is followed by lower highs on the yellow short term rate of change and on price.
Price has stayed around the long term white ROC line longer than usual if this continues we should see the bears take control of this pair.
Looking at the IV rank indicator at the bottom we have seen IV rank steadily increase of the last few days though I have labeled it a sell at the moment it must cross 20-25 for this sell to be confirmed .
Over all I am looking to take this pair from current levels to levels considered cheap .
At the time of writing this YOY GBP is up 3.2 percent and cad is down 0.18%