GBP long VS CAD ( Trade not yet triggered)

FX:GBPCAD   British Pound / Canadian Dollar
Here we have broken the trend line to the upside however be cautious, we need to close
above 1.65 on the daily, to establish the bulls coming into play and the trade to be active . Some key data this week BOC rate statement which is expected to be cautious and much of the same tone ,CAD - GDP - M/M, GBP Manufacturing PMI,Construction PMI & Services PMI
We predict Long the GBP @1.65
T1 profit @ 1.66 which is a key level, Previous support has become resistance.
T2 Profit @ 1.6930 just below the .236 fib line
Stop @ 1.6180 just below the last previous lows

We rate this trade out of ten (6.5)

Happy trading, stay tuned...... plan the trade and trade the plan !!!!!!!
Comment: Okay this trade is still not active yet ????????
We need to close at or above 1.65 on the daily for this trade to be active.
You may be asking well if your willing to enter @ 1.65 why not get in now at a cheaper price ?????? there is a reason, CAD has had some reasonably good figures come out which has been halting progress here over the last couple of days, along with GBP bears still having the edge, we need to see the bulls coming back in before we commit ,

stay tuned happy trading


Right now the GBP is under pressure from the bears and any positive CAD data is being overlooked due to the BOC's dovish tone last week so be patient friday should offer some insight

stay tuned
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out