GBPCAD Analysis:
GBPCAD hits the lower high area of the descending channel line in the daily timeframe chart.
In the 1-hour timeframe – GBPCAD is falling from the retest zone.
After the confirmation of Downward movement, GBPCAD sell signal given.
GBPCAD reached take profit target successfully
UK Pound: Rate hike expectations Confidence slower than the last meeting
UK Pound has suffered Losses, and Economists at MUFG Bank said GBPUSD might retest the support area of 1.33 is possible in the next quarter.
And Bank of England’s expectations of 50Bps looks dark now as the Russia and Ukraine War started.
This situation made the Bank of England keep a 25bps Rate hike on the table instead of 50Bps, according to analysts MUFG Bank said.
And the UK might do a 25 bps rate hike expectations in March 17 meeting.
Canadian Dollar: Oil Prices soaring near to 100$ Mark
Canadian Dollar shows less strength against US Dollar and Ukraine regions are surrounded by Russian Military Forces.
Bank of Canada may be Do Tapering in the upcoming meeting as expected.
And Australia would impose sanctions on Russia if Troops do not retake their nations.
And Oil prices soaring to 98.0$ this morning due to the Higher Energy crisis would be expected from Global Areas.
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