FX_IDC:GBPCAD   British Pound / Canadian Dollar
With the prime minister heading to the Brussels for a negotiation for the Irish border back stop anything can happen. however if we look at the bright side of things although there is a high level of uncertainty in the market the technicals have presented some long ideas. we are currently 0.5% exposed to this trade due to this fundamental Brexit issue .
now if you look at this from a technical perspective price has had 2 touches on the main trend line . price has also broken and rested the trend Line now acting as a support in the region of 174420. at the same time that zone has some supply going back to aug-sept 2016.
with the fib sequence on which has seen price done bounced from the 50% level .before surging on the break out I see price heading to the 61.8% confluent with the 17760 handle.
for now its patience and we will see how this plays out. patience and good risk management is key.
Mar 13
Trade closed: stop reached: stops were too tight. but targets were met eventually. .. lesson learnt here
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