ForecastCity

Don't miss the great sell opportunity in GBPCAD

Short
FX:GBPCAD   British Pound / Canadian Dollar
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.7455). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. GBPCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 31.

Take Profits:
TP1= @ 1.7260
TP2= @ 1.7130
TP3= @ 1.6958

SL: Break Above R2
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Comments

Thanks for the trading opportunity.
+2 Reply
ForecastCity Best_Forecast
@Best_Forecast, Please don't mention it. It's our pleasure.
+1 Reply
Love the clean analysis, very nice
+2 Reply
ForecastCity Best_Forecast
@Best_Forecast, Thanks. we hope you enjoy it.
+2 Reply
I was actually analysing a potential sell around 1.74387, then your idea came up :) more confident know! Thanks :)
+1 Reply
@IAMNDN, You're welcome. Thanks for your comment.
Reply
Does look like 1.745 will be tested again as resistance, GBP stronger at the moment?
+1 Reply
ForecastCity DamonDavies
@DamonDavies, Thanks for sharing your point of view about this post.
Reply
strong idea! ;)
+1 Reply
ForecastCity sara-kian-fx
@sara-kian-fx, Thanks for your comment.
Reply
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