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SmithTradeSmart

GBPCAD - Descending Triangle Testing Key Support | Sell | 1:3 RR

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
SmithTradeSmart  
FX:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Technical Indicators Chart Patterns GBPCAD gbpcadshort gbpcadlong gbpcadanalysis gbpcadforecast gbpcadsell gbpcadbuy gbpcadidea
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📢GBPCAD 1H - Technical Breakdown

📈Price action around the current market price is testing the descending triangle key support floor at 1.74930. This is the 4th or 5th time this level has been tested. If this level is broken to the downside bearish momentum will undoubtedly ensue.

📈A short opportunity from the current market price presents a 1:3 RR trade aiming to bank 150 pips down to the current range low at 1.73340 highlighted with a green horizontal ray.
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