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GBP/CAD Technical Analysis: Yesterday’s Low is Broken

By:
Nenad Kerkez
Updated: Jun 2, 2020, 13:42 GMT+00:00

The GBP/CAD is still bearish. The pair has broken yesterday’s lows before spiking higher. The GBP was bought early in the morning session.

GBP/CAD Technical Analysis: Yesterday’s Low is Broken

In this article:

Dear Traders,

The GBP/CAD is still bearish. The pair has broken yesterday’s lows before spiking higher. The GBP was bought early in the morning session.

We need to have in mind that the deadline for extending the Brexit transition period is on 30 June. This bounce is contributed to a sort of optimism but all GBP crosses have a headline risk now. At this point I still see the CAD stronger than GBP. Yesterday’s lows have been broken and the price is rejecting THU highs. We should expect a bearish continuation towards 1.6880.

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The Analysis has been done with the CAMMACD.Core and Sit Systems

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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