GBPCAD Formed Crab Harmonic Pattern which supports the bullish bias targeting 1.7110
stop loss should be placed at 1.6620
Fundamental commentary:
GBP has also lost a key tailwind since the emergence of the Omicron eased expectations for a BoE rate hike this month.
Omicron variant introduced significant uncertainty into global markets, with a BoE rate hike looking increasingly unlikely this year.
Last week, three BoE officials further dampened rate hike bets which increase the sell pressure on the GBP but we expect a short term correction for GBPCAD so try to lock your profit to avoid the main downtrend.
stop loss should be placed at 1.6620
Fundamental commentary:
GBP has also lost a key tailwind since the emergence of the Omicron eased expectations for a BoE rate hike this month.
Omicron variant introduced significant uncertainty into global markets, with a BoE rate hike looking increasingly unlikely this year.
Last week, three BoE officials further dampened rate hike bets which increase the sell pressure on the GBP but we expect a short term correction for GBPCAD so try to lock your profit to avoid the main downtrend.
Trade closed: target reached:
TP1 reached
Signals and analysis derived from artificial intelligence models and experts
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www.ChartDepth.com?utm_source=tradingview
play.google.com/store/apps/details?id=com.chartdepth.ai
apps.apple.com/gb/app/chartdepth/id1560762940