watch video till end and try to understand the proper way of technical analysis.
Well referenced political news is important. Sterling could see serious volatility next week if political pundits are correct about Theresa May being forced out of her premiership next week in relation to Brexit confusion. Rival MPs are already jostling for position as Wednesday is the big day. The uncertainties could send GBP pairs into high volatility...
Hey guys, one bloody good setup + Pre London setups.
I'm stalking GBPCAD and other Sterling pairs for action next week, as Brexit talks have yet again broken down. Stalking is about vigilance, and investment of time in being prepared.
In the screncast I start off with GBPAUD on a weekly time frame and move on into much lower time frames across other pound-pairs. The geopolical/macroeconomic picture for the UK with Brexit, creates uncertainty. There are reliable reports of preparations for pharmaceutical stock piling, big push in logistics sector for storage of tinned food and firelighters...
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GBP/CAD Short in play. Clean Retest of Support Region. Looking for further decline to 1.7100 If We can sustain A Oil Rally Next week the CAD will appreciate relative to GBP/CAD
Reasons to buy this pair #1: W1 Support area #2: Fibonacci confluence level #3: H4 Double bottom and bullish "Pin Bar" at 2nd bottom #4: Bullish H4 RSI Divergence (I forgot to mention :-P)
OANDA:GBPCAD Safe Trades;