GBPCAD in the middle of the channel
As the market currently doesn't have a clue what it's trying to do, the best trade on this pair is either to sell from channel top or buy from channel bottom which will give a great R:Ratio.
I'd look to sell @ 1.729 with SL above 1.7370 & TP 1.7130
Alternatively buy @ 1.6915 with SL below 1.6850 & TP 1.7095.
I prefer the long side of this trade if it presents itself due to falling Oil prices and CAD weakness.
Not keen on any directional move in this market as its extremely volatile and you never know when central banks would come up with an unplanned measure throwing us off a good trade.
I'd look to sell @ 1.729 with SL above 1.7370 & TP 1.7130
Alternatively buy @ 1.6915 with SL below 1.6850 & TP 1.7095.
I prefer the long side of this trade if it presents itself due to falling Oil prices and CAD weakness.
Not keen on any directional move in this market as its extremely volatile and you never know when central banks would come up with an unplanned measure throwing us off a good trade.
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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.
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.