There's a lot of doom and gloom surrounding the GBP with Brexit and Scottish Elections noise hurting the price plus the weak Services PMI print but from a technical viewpoint GBP/CAD looks mildly BULLISH.
As long as we stay above 1.6217 price could look to take out 1.6628 which opens a move to then 200 sma.
Price is currently held under the 100 sma so the BULLS need to break this level before they can continue north.
Below 1.6217 opens a move down to 1.6213 and under there the recent record low at 1.5781
As long as we stay above 1.6217 price could look to take out 1.6628 which opens a move to then 200 sma.
Price is currently held under the 100 sma so the BULLS need to break this level before they can continue north.
Below 1.6217 opens a move down to 1.6213 and under there the recent record low at 1.5781