Not the easiest pair to read as CAD is sometimes unpredictable, but after a rally of more than 2000 pips from the current 2017 low, the pair broke below a key support area last week at 1.7050. Price have held below this area since 12 June and I will wait for a re-test of the 1.7045/1.7050 resistance and a SOLID sell signal before considering an entry. Support is at 1.6540 with a close below opening up to Feb lows around 1.6240.

GBPCAD - SELL OPPORTUNITY 19 JUNE

Source: QUEEN OF POUND

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