APosner
Long

$GBPCAD is ready for the next leg up

FX:GBPCAD   British Pound / Canadian Dollar
94 0 0
$GBPCAD             has been consolidating since the 1.68 peak and with the push up last week and two days of no push back I feel confident GBP/CAD             is going higher. Both the stochastic and MACD have corrected while price has hardly moved which is a very bullish sign. With positive crossovers now in place the market is signalling it is ready to move higher. Complementing these technical indicators is the fall in oil             prices which this morning had WTIC under $100 for the first time in a long time. Cheaper oil             is bearish for the Loonie.
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