Setups
GBPCAD Plausible setupsReact off what the market gives you, don't predict the market. These are two scenarios which could happen and how I would approach a trade if it set ups accordingly. Personally, my bias is bearish as GBP should become very week over the next few months due to fundamentals. Second wave COVID probable as well as the possibility of any negative Brexit news for the UK it is highly unlikely GBP will see a long run to my end TP for the buy scenario. Setting SL to BE will be a priority for the buy trade.
I am confident if the sell setup does happen the TP - or area of TP - will be accomplished.
For both setups, confirmations will need to be seen before placing any trades, this is a norm for all trades. Do not go into trades blind.