mikoaodu

GBPCAD LONG - PRICE REJECTING CHANNEL AND SUPPORT LEVEL

Long
FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD is currently testing a strong area of support and is also testing the lower channel of a descending channel . We have to reject this area on the H4 timeframe and we could be seeing a swing to the upside now for the pair to breakout of the channel and create some new highs at 1.75000 if we start to see some more GBP strength come into the markets.

If you have any questions just drop a comment :)

Comments

Bro that's a double top pattern shown at the chart, and it have shown double confirm by breaking the neckline of the double top pattern. I'm shorting for this pair
+1 Reply
mikoaodu Eipannnn
@Eipannnn, Price has been moving quite correctively on it's way down, usually after a double to pattern you expect to see an impulsive break of the neck line. But we will see where price goes :)
Reply
Hi. iv had my own analysis on this too. I'm long at 123.... rejected off the 200 moving average too. let's see what happens.
Reply
RookieConkersFX RookieConkersFX
1723.00
Reply
mikoaodu RookieConkersFX
@RookieConkersFX, Nice bro, just have to wait and see now
Reply
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