GBPCAD respects downtrendline
Price is below key level at 1.6990
based below HVN at level 1.6942 which indicates that pair is in distribution
phase
Price broke lower edge of rising wedge pattern with strong bearish movement
Rejected from SMA 100
RSI rejected from downtrendline
It's expected for coming strong bearish wave (c) to target level 1.6638 which corresponds to 127 Fibonacci extension
Price is below key level at 1.6990
based below HVN at level 1.6942 which indicates that pair is in distribution
phase
Price broke lower edge of rising wedge pattern with strong bearish movement
Rejected from SMA 100
RSI rejected from downtrendline
It's expected for coming strong bearish wave (c) to target level 1.6638 which corresponds to 127 Fibonacci extension
Trade active:
running +90 pips