- Stochastics is in Overbought conditions
- Price action close to a Short-Term Resistance (may break if Brexit causes )
- Brexit uncertainty in its final stages may cause some and may cause price to test the Horizontal Resistance
- On a longer perspective, delay in Brexit transistion actually affects the UK economy more as corporates hold back capital expenditure to improve the GDP while CAD is likely to gain from further positivity from US-China trade talks and OPEC plans to cut supply to maintain stable oil prices.
We will be waiting for confirmations of multiple confluences before considering this trade setup ready. Patience is the key to success.
*This pair outlook is provided on an advisory basis. Any trade decisions made based on this outlook is a personal decision and we are not responsible for any losses derived from it.