After NFP last Friday, market appears indecisive yesterday. Price is currently hovering just above daily pivot level. Selling pressure of oil price is really building up due to global oil glut. Countries like Canada, which is a huge exporter of oil is feeling the heat. I think its about time for CAD to crash either today or tomorrow. All the talk about rate hike for CAD is just a whole load of ballooney. I do not believe BOC will raise interest rate tomorrow. A breach above alligator may be a good signal to long GBPCAD.
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