GBPCAD has formed a bullish shark pattern and price is approaching the lower band of a solid range in daily timeframe, we can in addition see a strong RSI DIVERGENCE in h4 chart, this situation is really common where there is a bottom in a market structure, the accumulation structure is clearly working and the pair will push towards the 0.50% retracemtn in next days around 1.6960.
Use a proper money management and pay attention to BOE DECISION ON INTEREST RATES ON THURSDAY, if the MPC votes for a 50 bp hike there wil be a strong really, if there will be a 25 bp hike the gbp will remain the same (maybe a 30/ 50 pip move but nothing important).
This analysis has been realized by Francesco Drago, founder of DRAGO INVESTMENTS
Francesco
Use a proper money management and pay attention to BOE DECISION ON INTEREST RATES ON THURSDAY, if the MPC votes for a 50 bp hike there wil be a strong really, if there will be a 25 bp hike the gbp will remain the same (maybe a 30/ 50 pip move but nothing important).
This analysis has been realized by Francesco Drago, founder of DRAGO INVESTMENTS
Francesco