Differing trade outlooks
Looking ahead for the likelihood of Brexit and Nafta being done presents two opposing outlooks. Getting a Brexit deal is looking harder and harder for May. With her Chequer's place not gaining traction, how long can she hold on to it until the cracks really appear. Everyone knows Boris Johnson (aka BOJO) is waiting in the wings to take on the hard Brexit outcome and give the EU a jolly big punch on the nose. The Irish Border problem is s a continuous problem with no sign of being resolved. It is hard to see this getting solved quickly.
NAFTA, on the other hand, is looking like a smoother path. Yes, there are issues with Nafta - the dairy farmers and the Auto tariffs (as to when they may or may not be imposed). However, it is a whole lot closer than Brexit. So a GBP/CAD swing trade looks good on the daily chart. Stops above 100MA or 200MA on the daily chart as near term risk.
