GBP - Strong Bearish
1️⃣ The annual inflation rate in the UK dropped to 3.1% in September from 3.2% in the previous month, and lower than market forecasts. The decline in inflation could stop the BOE from raising interest rates this November.
2️⃣ The UK recorded a total of 38,740 cases of COVID-19 infection on Monday.
3️⃣ The Pound is pressed amid new discussions on the Northern Ireland Protocol.
🇨🇦 CAD - Weak Bullish
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The annual inflation rate in Canada rose to 4.4% in September from 4.1% in the previous month, and beat market forecasts.
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Technical
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We are selling the GBPCAD after the price failed to break the resistance level.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ The annual inflation rate in the UK dropped to 3.1% in September from 3.2% in the previous month, and lower than market forecasts. The decline in inflation could stop the BOE from raising interest rates this November.
2️⃣ The UK recorded a total of 38,740 cases of COVID-19 infection on Monday.
3️⃣ The Pound is pressed amid new discussions on the Northern Ireland Protocol.
🇨🇦 CAD - Weak Bullish
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The annual inflation rate in Canada rose to 4.4% in September from 4.1% in the previous month, and beat market forecasts.
=====
Technical
=====
We are selling the GBPCAD after the price failed to break the resistance level.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
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❌ TRADE HAS HIT SL
-50 PIPS
CAD slipped following a decline in oil price.
-50 PIPS
CAD slipped following a decline in oil price.