Technical view
On Weekly timeframe GBP/CAD has showed rejection from very important Supply area. We can see Pin bar was formed last week which we can consider as a buy signal, also we can see pin bar on daily chart. MA10 and MA20 have crossed each other on Daily chart which means there are changing in the trend in play. I will be looking for buy orders on smaller timeframes like H4 and H1 to join new uptrend. As u can see on given example area from 1.6800 to 1.6914 is next key Resistance area for GBP/CAD and there will be my TP.
Fundamental view
Monday GDP data for GBP was more better then expected which are very good numbers for Great Britan economy, and it seem Great Britan will avoid recession. So we could see recovery in GBP in further days and weeks.
On Weekly timeframe GBP/CAD has showed rejection from very important Supply area. We can see Pin bar was formed last week which we can consider as a buy signal, also we can see pin bar on daily chart. MA10 and MA20 have crossed each other on Daily chart which means there are changing in the trend in play. I will be looking for buy orders on smaller timeframes like H4 and H1 to join new uptrend. As u can see on given example area from 1.6800 to 1.6914 is next key Resistance area for GBP/CAD and there will be my TP.
Fundamental view
Monday GDP data for GBP was more better then expected which are very good numbers for Great Britan economy, and it seem Great Britan will avoid recession. So we could see recovery in GBP in further days and weeks.