The fundamentals on the GBP provides a lot of potential upside momentum for the GBPCAD today. 1st there is the GBP manufacturing PMI, then the official bank rate votes and lastly BOE Governer Carney will be speaking. The technical's indicate that price on the 4hr chart made a lower low and bounced of a support area formed a few weeks ago. The latest political scene (Brexit) developments also provide good reason for the GBP to further strengthen.
Long Position Entry levels indicated on the chart should be considered Take profit levels should be build on a potential +/- 150 pip move
Remember anything can happen
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2hrs ago, price retraced into the 50% fibo area. The idea is now live. Outcome is dependent on the BOE interest rate decision and Governor Carney's speech.