Buying GBP/CAD will now forever be known as ‘the Carney trade.’ I might even call this pair ‘Carney’ from now on.
At the moment, the International Governor of Mystery seems to have made a good trade. GBP/CAD touched a two-week high today and is above all the major moving averages.
A close above 1.5941 targets a re-test of 1.6000, momentum beyond that could drive this pair to 1.6175.
In the bigger picture, this pair is consolidating after a monumental collapse to 1.50 from 2.35 during the crisis.
