GBP-CAD might re-enter the historic 4 year range!
UK inflation at 10,5% sparkled a rally in GBP that might continue for several days, pushing GBPCAD into the historical range 1,68 / 1,76.
Inflation data that were published 2 days ago confirmed that UK is still laggin in its figth against inflation. Canada's inflation on the other hand has already decreased substantially since June 2022.
Technically GBP-CAD has been trading in clear range for 4 years: 2018 to 2022, the lowest of this range has already be attacked and now we are aiminng at it again.
If we re-enter the 4 years range we will most likely target the middle of the range at around 1,72.
This offers us a trade with a decent 3:1 risk reward.
Inflation data that were published 2 days ago confirmed that UK is still laggin in its figth against inflation. Canada's inflation on the other hand has already decreased substantially since June 2022.
Technically GBP-CAD has been trading in clear range for 4 years: 2018 to 2022, the lowest of this range has already be attacked and now we are aiminng at it again.
If we re-enter the 4 years range we will most likely target the middle of the range at around 1,72.
This offers us a trade with a decent 3:1 risk reward.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.