piptank
Long

Buy $GBPCAD at support - Daily Chart $GBP $CAD #forex

FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD             is in a recovery mode after hitting support (orange line).
I consider a buy position at 1.793. After a small pullback.
A weekly Chart of that pair show us a consolidation period in the last year.
In 2013 the pair was in a strong upward trend. So now it may continue to go upward.
From fundamentals view
The Bank of England holds Interest Rates and the size of the Asset Purchase Programme unchanged.
British trade gap decreased to 17-Month low.
Canadas unemployment rate remains at 6.6 percent in Dec 2014.
It's declining from higher points but Labor Force Participation Rate decreasing, too.
TP 1.82
SL 1.772
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