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Hello everyone! Gbpcad always very interesting, in fact the pound is now cheap and the Canadian dollar seems to continue to be rather weak. The problems linked to the Nafta and Brexit negotiations are mixed and therefore we must always be very careful. Meanwhile, the daily shows us that we could have a couple of days of rebound.
In fact, the price has stopped at 61.8% retracement of the climb from 1.5836 to the peak of 1.84 and I expect that this rebound will go back to 50% retracement around 1.7180-1.72. Where we also have the pivot montly and the neck line of the head-shoulders broken last week. At that point we will have an excellent level for a two-way trade, even if I prefer to lean for a short that, given the figure should lead us during the month towards 100% retracement to 1.5836. Good luck and nice morning!
