. There is still a possibility of temporary retracement to suggested resistance line (1.7785). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. 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...
Monday. My favourite day of the week, purely because the markets are waking up.
So we entered a long position on GBPCAD this morning. We are currently -2 percent but we are comfortably waiting for price to retest our strong resistance zone and eventually continue in a bullish momentum into our take profit area.
Our analysis has been created on a 1hr time frame for...
GBPCAD 4hr potential, Target in sight. Waiting to see the pound strength come through.
This weekly resistance could prove to be a hidden obsticle for the short term, if the GBP strength can rally through can take a long position.
GBPCAD is rejected the long term resistance level.
RSI printed a bearish divergence signal.
The market is consolidating in pennant chart pattern.
Sell entry - breakdown below the pennant support + previous low ⬇️.
Sell confirmation - breakdown of RSI rectangular pattern support.
. There is a possibility of temporary retracement to suggested support line (1.7310). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPCAD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
GBP/CAD at retracement level.
Following a large drawdown of 160 pips, the GBP/CAD is at the 0.5 Fibonacci retracement level. Previous false breakouts have occurred on the 4th June and 8th June - price action tends to repeat itself so this breakout below the trend channel is likely to be false too. The hourly stochastic is giving an oversold signal, along with the...