As USDCAD and Oil seem to be slightly ranging at the moment, I turned to the GBPCAD and saw what I might see as a little retracemenet in the works. The only worry about this trade idea is that we are already at the weekly R1, so it’s a bit of a risky trade. We should keep our eyes peeled on this pair as there is a CAD (Poloz) speech on tuesday and GBP GDP on wednesday for a possible pull back and a better entry for what might be some GBP strength around the corner.

Cheers

GBPCAD D1

GBPCAD D1

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