GBP/CAD Outlook


Let’s take a look at the GBP/CAD chart.

We’re in a nice downward movement and from the daily to the hourly, it looks like the downward movement will potentially continue.

In the shorter term, look for the pair to potentially move up to test the upper trend line. Once the 3 wave retracement has completed, then look for a potential continuation back down – potentially to the 1.5200 area and below.

Good luck with trading and remember that July is typically a funky month so be cautious when trading – use your money management and apply your stops.