On a technical basis, the pound "is a long way from oversold," she says, and the moving averages all suggest it could weaken from current levels.
Sutton also thinks the Bank of England may increase asset purchases in the wake of the latest CPI report.
And in Canada, "the fundamentals are pretty good, particularly on a relative basis."
Sutton recommends entering the trade at 1.56 with a target of 1.54 and a stop at 1.5720.
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