GBP/CAD - Support and Resistance + Brexit Fundamentals
GBP/CAD BUY,
Talking points,
Technicals:
Sterling could bounce on this support. Because of the Brexit, GBP/CAD is in a non-tradeable environment. Still it's a beautifull example of simple dailly support and resistance.
Easy trades. I still have a bullish forecast on the technicals.
Fundamentals:
NOVEMBER 25: Emergency EU summit?
One reason why Theresa May is now pressing for an agreement on the UK’s withdrawal treaty is to pave the way for a special Brexit summit in November.
The UK government wants the EU’s formal imprimatur on a deal this month so that London has enough time to push through Brexit legislation in early 2019.
But, as negotiations have continued, the dates on which the summit could be held have been slipping into later in the month. The UK had previously hoped for November 17-18. Now the last possible date ahead of a G20 summit in Argentina to which many leaders are heading appears to be November 25. On that day, if all goes to plan for the UK prime minister, she and the other EU will sign the deal.
Sentimental:
MID-2020: Brexit Journey’s end?
Many business leaders suggest that the “maximum facilitation” plan favoured by some Brexiters, relying on ad vanced technology to speed up customs clearances, would need years to put in place, delaying “full Brexit” until deep into the 2020s.
A less ambitious “fast-track” system on the US-Canada border took decades to develop and billions of dollars in investment.
Talking points,
Technicals:
Sterling could bounce on this support. Because of the Brexit, GBP/CAD is in a non-tradeable environment. Still it's a beautifull example of simple dailly support and resistance.
Easy trades. I still have a bullish forecast on the technicals.
Fundamentals:
NOVEMBER 25: Emergency EU summit?
One reason why Theresa May is now pressing for an agreement on the UK’s withdrawal treaty is to pave the way for a special Brexit summit in November.
The UK government wants the EU’s formal imprimatur on a deal this month so that London has enough time to push through Brexit legislation in early 2019.
But, as negotiations have continued, the dates on which the summit could be held have been slipping into later in the month. The UK had previously hoped for November 17-18. Now the last possible date ahead of a G20 summit in Argentina to which many leaders are heading appears to be November 25. On that day, if all goes to plan for the UK prime minister, she and the other EU will sign the deal.
Sentimental:
MID-2020: Brexit Journey’s end?
Many business leaders suggest that the “maximum facilitation” plan favoured by some Brexiters, relying on ad vanced technology to speed up customs clearances, would need years to put in place, delaying “full Brexit” until deep into the 2020s.
A less ambitious “fast-track” system on the US-Canada border took decades to develop and billions of dollars in investment.
