Birds Eye View of GBPCAD
Updated
Here we are sitting at the top of the channel after the huge miss in CAD data. This move will be from the Pound side, as Brexit becomes ever closer and thus the pain to the UK economy.
The soft data in Canada is showing no signs of reversing however I am retaining the bullish CAD view as the underpricing of a hawkish BoC. Capacity constraints and labour market tightness will lead to further hikes.
Good news from the US-China trade front will help this pair too via Oil and risk sentiment stabilising.
Best of luck guys...Please remember to like and comment to open the discussion.
The soft data in Canada is showing no signs of reversing however I am retaining the bullish CAD view as the underpricing of a hawkish BoC. Capacity constraints and labour market tightness will lead to further hikes.
Good news from the US-China trade front will help this pair too via Oil and risk sentiment stabilising.
Best of luck guys...Please remember to like and comment to open the discussion.
Note
BoC inline, hikes coming to Canada later this year. Back to the Brexit flow.Trade closed: target reached
Secondary targets cleared here .. well done shorts.
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