FX:GBPCAD British Pound/Canadian Dollar
$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 and have corrected while price has hardly moved which is a very 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 for the Loonie.