GBPCAD, short-term potential +/- 200 pips on short set-up

2018年11月9日

A potential short trade is busy setting up for this coming week starting on 12 November 2018.

FUNDAMENTAL
Fundamentals will probably support a weaker GBP.
Economic red news releases include GBP: cpi, retail sales and inflation reporting.
Should all of or most of these news items be negative for the GBP, a definite GBP weakness will be experienced.
Note: no significant news releases scheduled for the CAD.

TECHNICAL
Price appear to be oversold on the 4hr chart.
The Ichimoku indicator on the 1hr chart show further weakness.
It therefore imply a potential short position is in the making that might produce +/- 200 pips.

See potential price levels for entry, profit taking and risk management on chart.

Remember, anything can happen.

Happy trading

2018年11月12日

註釋

Well folks!, there you have it, the GBP political situation added fuel to this short trade idea. Target reached sooner rather then later.

Happy trading