2016-01-05_21-12-17gbpcad

In my opinion price is at an interesting level.

The stochastik suggest a bullish move where it will be intersting to see if it is just a retracement into the cloud or if the move has more strength for the bullish trend to resume.

Fundamentally I prefer to be a bull on the pound due to a possible rate hike and for the cad a possible bear due to falling oil prices.

Therefore it would be wise to try to allign a strong currency against a weak one before to place the actual trade.

If prices moves over the cloud the it will be more likely for price to continue its up move.

If not well then more bearishness might be expected.

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