GBP/CAD most important line from 1.7130 close to cross above is 1.7160, GBP/CAD reaches 1.7130 by 1.7141, 1.7155, 1.7160 then targets 1.7187 and 1.7233. Shorts overall is the way unless 1.7448 break higher. Then GBP/CAD goes much higher.
Why GBP pairs is because all GBP pairs correlate + 90% to GBP/USD. Means all GBP pairs running on all cylinders or specifically all travel together.
Problem all GBP pairs at near top to middle range channel. Means overall, we buy dips and sell rallies type of trading.
GBP/CAD bottoms. 1.7044, 1.7020, 1.6993. Should 1.6993 break then 1.6953. Ultimately, we want to long at bottoms here. Prefect long is 1.7020 to 1.6993 then we target back to 1.7080 and 1.7117.
The opportunity in GBP pairs is to see a dip based on Turkey because its overall implication to Europe.
We don’t begin the week until this evening so what we want are quick hits, don’t marry the trades until we see how hard they hit these lows.