This week it’s all about making pound great again. Sentiment is in strong favour and as long as the Scottish referendum stays out of the headlines GBP’s path of least resistance is up as it seems that the worst case scenario has been digested by the market. Ahead of the BOE meeting I’m eyeing this setup among others
Carney’s comments in the past could propel gbp further ahead of the meeting and keep prices above this area.
This pair threw a neat IB setup right from a supply zone and as far as BOC’s stance goes another rate cut is on the table, this should keep cad under pressure.