As the EU referendum draws closer we are seeing increased volatility on GBP/CAD. We have seen GBP/CAD range from 1.84 to 1.92. Current levels are looking very favorable for CAD sellers, the best levels in the last month. This is predominantly due to the Leave camp gaining momentum in the referendum. Personally I do not think these levels will remain. With Nicola Sturgeon going up against Boris on Thursday night I think we may see a swing in favor of the remain camp and subsequent polls will show this.
If you are trading before the referendum it is vital to be in touch with an experienced broker to be your eyes and ears in the market. There are contract options available that can be implemented to try and maximise your return.
Keep an eye out for Canadian unemployment figures on Friday at 14.30. This could cause movement on GBP/CAD.
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