FX:GBPCAD   British Pound/Canadian Dollar
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GBPCAD             breaks upside resistance from major consolidation over the last 3 years. This falls in line with the risk aversion theme of 2013             for most pairs. An upside target of 1.7380 is very likely heading into the last 3 months of the year.

This analysis should also help provide a clearer view on USDCAD             over the next couple of months. This pair has been consolidating in a narrow range for a couple of weeks now and a strong breakout is likely to occur, my preference to the upside in line with this GBPCAD             analysis.
This trade is working out as expected and we are coming up to multiple trend line resistance points. There is still some upside potential remaining for those who are late to the party but Fridays close on UCAD was very bearish so we need to be weary of some consolidation here before the final press into 1.7380. My feeling however is another strong week or 2 of candles before profit taking will occur. Let's see how it play out
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