Simple_FX_

GBP/CAD: Bearish sentiment - Looking for the short entry!

Short
FX:GBPCAD   British Pound / Canadian Dollar
Good Afternoon,

The pound has been bearish this week, if you followed my trades last week I made a healthy profit on GBPUSD trade which I was looking to hold longer however I closed that yesterday and banked some profits and will look to re-enter long if I see a new opportunity.

With this pair price seems to be moving south also - from the chart you can see the ascending trendline has been broken and if you look at the key S/R levels there could be some good points of entry for a short. I will personally wait for a retest of trendline and/or the support turned resistance above before making a move.

Let me know what you think!

Thanks!

Comments

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