This pair has been trending higher for quite some time, but it looks like a break below its rising trend line on the 4-hour chart is due. If so, a reversal from the uptrend might be in the works.
Sterling remains under pressure as PM Johnson hinted at pushing the Brexit deadline further, which could run up the risk of a hard exit once more.
Meanwhile, the Loonie has been enjoying a bit of support thanks to crude oil rallies on the heels of a delay in the next batch of tariffs from Uncle Sam.
A short play below the 1.7250 minor psychological mark and a target that’s roughly the size of the pair’s average volatility could be enough to catch any downside momentum.
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