GBP - BULLISH 1️⃣ Driven by a weaker dollar and the prospect of a strong economic recovery in the UK. The "stage two" of lifting lockdown began this week, with non-essential shops, gyms, and art galleries reopening in England. 2️⃣ Most of this week data from U.K. expected to print better.
CAD - BEARISH 1️⃣ COVID continues to rage across Canada with vaccinations very slow. 2️⃣ PM Trudeau said third wave has taken turn for worse. 3️⃣ Bank of Canada meets this week - they could remain cautious given COVID situation and lockdowns.
===== TECHNICAL =====
- We're buying this pair on RBS level + SMA50 area on M15 chart. This is short term trading strategy from Monsun Asia. - Risk reward ratio is 2:1.
===== RISK TO THIS TRADE ===== - This trade will hit stop loss if oil prices increase (CAD will be strong).