GBP/CAD SHORT OPPORTUNITY
Price Action (Technical Analysis): Coming into this week we are speculating price action, I am anticipating a possible entry to continue short based off our Fibonacci Retracement Levels. The Pound showing weakness led this pair to breaking below it's support and for us to expect an exhaustion. Our potential entries coming from a Technician perspective would be price to pull-back to previous structure also complimenting this idea would be our 38% Retracement, our retracement for a strong continuation in trend being a few pips above our ideal entrance can almost confirm this idea while being followed up with candle-stick confirmation.
If price in fact starts breaking above Higher Highs & Higher Lows, we can anticipate price to rally up to our 78.6% / Descending Trend Line.
Fundamental Analysis: High Volatile Canadian News for our Month-Month GBP this Wednesday / Following, Thursday being an extremely Volatile Day due to Various High Profile Reports such as the Bank of Englands Inflation Report/Rates.
If price in fact starts breaking above Higher Highs & Higher Lows, we can anticipate price to rally up to our 78.6% / Descending Trend Line.
Fundamental Analysis: High Volatile Canadian News for our Month-Month GBP this Wednesday / Following, Thursday being an extremely Volatile Day due to Various High Profile Reports such as the Bank of Englands Inflation Report/Rates.
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