Since the beginning of August, we have observed a clear upside trend developed by GBP/CAD; the pair started to shape a channel up pattern only in the second part of October. Although at the moment of writing the currency pair was retreating from a five-year high reached about a day earlier, market sentiment was strongly bullish as more than 73% of all orders were placed to buy the pair. Meanwhile, technical indicators are neutral for short-to-long terms.
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