GBPCAD | What's Next?

GBPCAD | What's Next?

On Friday the price started a very strong sell-off and without wanting to move too
much in terms of GBP's fundamental perspective, we can clearly see that the price broke down to a lower level.

Officially the price created a new low or an "ALL Time LOW".

If we check again, this price zone was last tested in May 2010 and before that in February 1985.

From this point, we can never predict what will happen and at the moment
it is better for us to wait for some clear price development.

It is very risky to trade under these conditions.

Price can correct but it can keep moving lower considering the strong bearish sentiment on the market against GBP.

Thank you and Good Luck!