5PMTrader
Long

GBPCAD - Ready to move higher?

FX:GBPCAD   British Pound/Canadian Dollar
93 0 0
Price is bouncing of a minor support zone. CAD remains one of the weakest currencies out there so this could provide a nice long trade opportunity with a tight stop just under today's bar.

CAD weakened further today. I anticipate further upside in this pair. However, if I see price action failing at 1.86 level, I'd take my trade off the table or at the very least, move the stop to break-even.

I'd enter the trade with a limit order to get a better Reward to Risk ration. Hopefully, price retraces a little and fills my order.
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