GBPCAD Analysis (7th DEC 2022, Wednesday)

Price has reach weekly FIB 79%.
Price rises during London Open.
Could seek for short if it creates lower high after New York Open.

Comment:

If you have an open short position with you, you might want to close all / partial close your order as it is invalid.

Supposedly yesterday CAD rate statement should make the price to fall. But it retrace downwards and has not create a structure break forming lower low.

Which means that CAD is creating a counter trend move, taking out retail trader stop losses.

Order cancelled