Confluences: 1. Daily Chart Trendline Breakout 2. Daily Chart Head and Should 3. Price is trending lower by creating lower highs and new lows
Entry: We will be looking to enter this trade towards the second half of this week. Will be holding this trade for about 4-5 day or until target is reached.
Comment
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Trade cancelled, we might have an oil sell off on our hands. this will affect the CAD
Comment
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The sentiment changed from risk-on to risk-off, we might see GBPCAD turn bullish and move towards the level to the level of 1.76000. This is due to covid19 cases on the rise in Europe, which will impact the demand for oil.