GBPCAD
W1 - The price has been moving in a narrowing channel since the beginning of the year, the trend line has already been broken. What can this tell us?
After fixing behind the trend line, a downward movement may develop, which will lead to a correction on the MN timeframe.
If it is implemented, then we should expect the price to fall to the level of 1.66245 and further decline to 1.56857.
What can be expected now?
If the formation is not false, then the nearest target is 1.67585 and further movement to 1.60981.
Long-term perspective - targets 1.65451 - 1.60770 - 1.56857
Medium-term perspective - targets 1.67585 - 1.65451 - 1.60770
W1 - The price has been moving in a narrowing channel since the beginning of the year, the trend line has already been broken. What can this tell us?
After fixing behind the trend line, a downward movement may develop, which will lead to a correction on the MN timeframe.
If it is implemented, then we should expect the price to fall to the level of 1.66245 and further decline to 1.56857.
What can be expected now?
If the formation is not false, then the nearest target is 1.67585 and further movement to 1.60981.
Long-term perspective - targets 1.65451 - 1.60770 - 1.56857
Medium-term perspective - targets 1.67585 - 1.65451 - 1.60770