Buying GBP Strength
Updated
GBP posted strong Retail Data this morning 2.3% compared to an expected 1.2%. This led to a breakout for GBP. It has since retraced to the 50% level for CAD. The target is the previous high approximately 80pips. And the Stop Loss is set just below a previous high and support level: approximately 50pips.
With CAD it is important to keep an eye on Oil. So if USDWTI or USDBRO starts to hit new highs, that may be a sign to exit the trade
With CAD it is important to keep an eye on Oil. So if USDWTI or USDBRO starts to hit new highs, that may be a sign to exit the trade
Note
I have a Buy Stop at the 50% level. If price drops below 1.7670 I will cancel the order.Order cancelled
Price dropped way too far. Cancelled the order.
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