Hello Guys,
In this video i show the areas where i am looking for a long on gbp cad. GBP has been strong post brexit and i expect the strength to continue. I also think that with oils weakness, the CAD is expected to see continued weakness.Note that BOC did cut rates this weak in an attempt to stimulate the economy but the weakness from corona virus and oil seems to be too strong i dont think the 50 basis points that was could will work. In addition to the strong trend from uk's election in December the pair has also had very strong fundamental data from the uk hence i would like to stay on the safe side and only look for longs on GBP pairs since this is likely what big money is doing since it fundamentally makes-sense
PLEASE WAIT FOR A PULL BACK
In this video i show the areas where i am looking for a long on gbp cad. GBP has been strong post brexit and i expect the strength to continue. I also think that with oils weakness, the CAD is expected to see continued weakness.Note that BOC did cut rates this weak in an attempt to stimulate the economy but the weakness from corona virus and oil seems to be too strong i dont think the 50 basis points that was could will work. In addition to the strong trend from uk's election in December the pair has also had very strong fundamental data from the uk hence i would like to stay on the safe side and only look for longs on GBP pairs since this is likely what big money is doing since it fundamentally makes-sense
PLEASE WAIT FOR A PULL BACK