GBPCAD could go up to 1.7138 after the BOE
Updated
GBPCAD has started to show upward strength after bouncing at the 1.70 level, where a demand zone is located. The price underwent a significant structural change on the M15 timeframe yesterday, presenting a trading opportunity that could have yielded a 1% profit before the release of Canadian data. Personally, I did not execute that trade. Currently, it appears to be resuming its trajectory towards the higher swing point, where there is liquidity to fill at the 1.7138 level. Today, the BOE interest rates are expected, so pay attention to potential entries during the London session and possible spikes during the rate announcement. Personally, I would consider an entry, provided the conditions are met, after the rate announcement to have a more comprehensive view of the chart and macroeconomic factors. Naturally, I will assess a structural change to the upside on the M15 to confirm my long-term bullish outlook. Greetings and happy trading to everyone.
Note
Waiting for reaction inside the demand zone... market is waiting the BOE
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.