Livre sterling / Dollar canadien
Short
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GBPCAD and the Middle East: Short Plan

170
Fundamentals:
Geopolitical tensions in the Middle East have increased the vulnerability for this pair. Oil should rise to $100, which is positive for CAD.

Technicals:

H&S pattern
dRd
Extreme short indicator
Weak retracement after a-b-c extension down
bands not impending the fall or causing confusion
Weekly BBT
Monthly chart bearish engulfing + med. pbs signal

Trade Plan:
Short GBPCAD, with a stop above weekly and monthly resistance
target 1.6090, the new support level and weekly low of February 2023.
Transaction en cours
snapshot
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Note
snapshot
3u3 is very bearish: The price should fall this week.

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