HELLO TRADERS THIS IS A POSSIBLE LONG TRADE PLAN. TODAY WE GET THE BOE’S MEETING MINUTES & INTEREST RATE DECISION. THE BANK OF ENGLAND IS EXPECTED TO HOLD INTEREST RATES AT 0.25% BUT TRADERS WILL LOOK FORWARD TO A POTENTIALLY IMPORTANT POLICY STATEMENT FOR DIRECTION OF THE UK ECONOMY.

GBPCAD DAILY

MARKET IS BEARISH, 55 IS ABOVE THE 21. PRICE IS BULLISH AFTER BOUNCING OFF OF MS1 PIVOT. RESISTANCE AT MPP & MM3. SUPPORT AT MM2, MS1, MM1. STOCHASTICS HEADING NORTH. MS1 PIVOT TARGET FOR BULLS IS MR1.

GBPCAD H4

MARKET IS SIDEWAYS. PRICE IS BULLISH, PRINTING HIGHER HIGHS & HIGHER LOWS. PRICE OPENED AT WM2 AT THE START OF THE WEEK, WM2 TARGET FOR BULLS IS WM4 WHICH COINCIDES WITH MPP. RESISTANCE IDENTIFIED AT WR1 & WM4. SUPPORT IDENTIFIED AT WPP WHICH COINCIDES WITH MM2 & THE FIB ZONE SWEET SPOT. STOCHASTICS HEADING SOUTH. BULLS WILL LOOK TO GO LONG AT 1.6023/1.6069 WITH A WEEKLY TARGET OF WM4.

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