High risk trade. Comments from Barnier yesterday confirmed that the EU were prepared to offer the UK a bespoke package to avoid a no deal Brexit.
The rally brings GBPCAD straight back into the daily descending resistance line.
We have a clear zone of sellers waiting to push price back to 1.6591
Following a break of this support, we could expect a leg lower to support at 1.6370
Technicals overrule the market but if Soft Brexit takes over the news networks, GBP may remain bullish.
The rally brings GBPCAD straight back into the daily descending resistance line.
We have a clear zone of sellers waiting to push price back to 1.6591
Following a break of this support, we could expect a leg lower to support at 1.6370
Technicals overrule the market but if Soft Brexit takes over the news networks, GBP may remain bullish.