GBPCAD 4 HOUR LONG
PRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF THIS DATA DOES COME OUT GOOD WE SHOULD SEE SOME DECENT STRENGTH IN THE POUND. A BREAK OF THE COUNTER TRENDLINE WE COULD EASILY REACH TO THE SWING HIGHS AS I BELIEVE THE UPTREND IS STILL VERY MUCH IN TACT.
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