Currency Pair : GBPCAD
Possible direction : Bullish
Technical Analysis : 4H price just grabbed multiple liquidity from he support zone and creating bullish price action toward the imbalance area.
Daily price has just has formed doji that has passed 2 days low, grabbed liquidity and then rejected towards the upside.
Weekly and Monthly long term bullish...
Buy: GBP / CAD
SL @ 1.65290
TP @ 1.66810
Max Risk: 2%
(When calculating, do not forget about different spreads from Brokers)
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It is not an investment recommendation
On the 4h chart of GBPCAD, price made a recent reversal to around 2.0205 level, where we think the first leg of an undergoing correction could end as in black wave ii. Price could initially move even lower to around 50 - 62.80% where our fibo. projections could indicate a reversal towards new highs.
Link to our previous updates on this pair :
