JP Morgan: Sell GBP/CAD

Well…JP Morgan doesn’t seem to agree with Citi’s reco and are recommending to short GBP/CAD.

JPM: Sell GBPCAD at 1.8185, stop 1.8415, target 1.75

The latest break below daily triangle support at 1.8195 provided a fresh sell-singal in favour of a broader 4th wave setback to the projected target at 1.7486. That said, we entered a short position and paced over stop above the first resistance zone between 1.8281 and 1.8332/77 (minor 38.2 %/pivot/hourly trend) as a break above the latter would neutralize the prevailing, negative bias again.

Citi vs JPM…who do you think will win? :)

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