GBPCAD Short leg on the way?
GBPCADWednesdays breakout has now been tested. A break back below 1.6300 should provide short entries into 1.6100 and a fresh test of last weeks lows.
Markets seem to be awaiting US CPI figures before flooding with orders as volume seems to be low this morning. Better than expected CPI (which seems to be on the cards given the Biden press conference after the announcement could further weaken both USD and CAD in the short term though so be mindful of breaks above 1.6350.
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