Petr Suchanek

GBPCAD short setup in focus

FX:GBPCAD   British Pound / Canadian Dollar
93 4 0
In terms of my unconventional trading methodology I express my short bias in the pair. Personally I am waiting for the "uptick" (false break, or retest of upper boundar).

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I was of the opinion to short too.. But tomorrow is BoC rate decision.. whispers of a possible rate cut as against a rate hike as previously thought. Also on Wednesday UK's unemployment data is due, which is showing to be inline with expectations.. Problem is, fundamentals point to a different direction compared to the technicals.. tricky scenario if you ask me.
Petr Suchanek justatrader
Ok, one must be careful about news release, but usually the reaction to news is a part of my patterns. I do not usually take care of WHAT happens, but it is very important WHEN it happens and WHERE is the price. So take care and happy trading!
will you trade right at the start of the week or wait for more confirmation?
I will wait for the start of the London session and then I will try to find out, whether my forecast is confirmed somehow...
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