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MARKET OUTLOOK
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GBP - BEARISH
1️⃣ Rising tensions between the UK and EU over the Northern Ireland protocol pressured the GBP.
2️⃣ Ongoing concerns that the opening of the UK economy could still be delayed due to the implication of the Delta variant of the coronavirus, which reported to be around 40% more transmissible.
CAD - BULLISH
1️⃣ Vaccination rates in Canada remain extremely high, and the government's decision to postpone second doses could prove to be a very effective tactic ahead of the summer.
2️⃣ The Bank of Canada says that the economy will recover strongly following the increasing vaccination program against COVID-19. This could indicate that the Bank of Canada will be tapering at its July meeting.
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TECHNICAL
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- We're shorting #GBPCAD on SBR level + SMA50 area + pivot point level on H1.
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RISK TO THIS TRADE
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This trade will hit stop loss if Brexit issues positive.
MARKET OUTLOOK
=====
GBP - BEARISH
1️⃣ Rising tensions between the UK and EU over the Northern Ireland protocol pressured the GBP.
2️⃣ Ongoing concerns that the opening of the UK economy could still be delayed due to the implication of the Delta variant of the coronavirus, which reported to be around 40% more transmissible.
CAD - BULLISH
1️⃣ Vaccination rates in Canada remain extremely high, and the government's decision to postpone second doses could prove to be a very effective tactic ahead of the summer.
2️⃣ The Bank of Canada says that the economy will recover strongly following the increasing vaccination program against COVID-19. This could indicate that the Bank of Canada will be tapering at its July meeting.
=====
TECHNICAL
=====
- We're shorting #GBPCAD on SBR level + SMA50 area + pivot point level on H1.
=====
RISK TO THIS TRADE
=====
This trade will hit stop loss if Brexit issues positive.
Trade active
Trade closed: target reached