GBPCAD - BEARISH BIAS=====
MARKET OUTLOOK
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GBP - BEARISH
1️⃣ Fears that a COVID-19 variant, first found in India, could delay the next phase of the reopening on June 21.
CAD - BULLISH
1️⃣ A ramp-up in global vaccination efforts and a strong economic recovery could push the loonie higher.
2️⃣ The Canadian central bank is expected to keep its current guidance on interest rate hikes starting in the second half of 2022.
3️⃣ Rising oil prices underpinned the CAD.
4️⃣ Canada's economic growth in the first quarter remained robust.
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TECHNICAL
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We're shorting this pair on SBR level + SMA 50 area + Pivot point level on H1 chart.
