GBPCAD: Running out of steam, start of the reversal?
In my opinion GBP is building up for a big fall this year, and it has to start with a lower high.
Oil prices are rising, and as much as the FED don't want this, it's happening, and this should be good for CAD.
I can see a rising wedge pattern, we can see spinning tops forming and it looks like we're running out of steam, I believe we'll initially fall back to the 1.7 support / round number.
I'm waiting for my entry, I expected GBP to fall before now, but the BoC unemployment news wasn't supportive last week.
Oil prices are rising, and as much as the FED don't want this, it's happening, and this should be good for CAD.
I can see a rising wedge pattern, we can see spinning tops forming and it looks like we're running out of steam, I believe we'll initially fall back to the 1.7 support / round number.
I'm waiting for my entry, I expected GBP to fall before now, but the BoC unemployment news wasn't supportive last week.
Trade active
Breakout and retest, expecting the fallTrade closed manually
Took profits ahead of the news, which was great UK data, suprisingly
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.