UK leadership hopefuls launch campaigns to take control of Brexit today. Initial news due around 17.00 CET. Boris Johnson is the main candidate and he is pro-Brexit.
GBP is being pressured because of this, since no EU-Government wants to see a no-deal Brexit.
At the same time, Canadian data was extremely strong and we like the odds of further weakness in GBPCAD today.
UK GDP is due in around 1H, and we also suspect it will be worse.
Sell on worse data, or after a pullback to resistance.