A prediction for GBPCAD. Long positions in place. Trend continuation makes for the base of reasoning with reference to the Daily Chart. RSI also shows there's room to the upside and when price reaches above Moving average, more positions can be added.
NB - Other factors have been assessed to come to this conclusion. This is in no way a signal, it is merely a shared idea.
Price has broken out of Daily ascending channel and retested twice. Indication of change in trend. RSI also signaling overbought status. Good risk to reward ratio. Wait for Daily close for confirmation- watch out for shooting star/ doji on D1 close.
Price is moving in a downtrend channel (between 2 descending trendlines on H4 timreframe). Price has reached top of the channel and is likely to bounce off. RSI is in overbought area showing price is ready to head back down. There is also a formation of a rising wedge, suggests continuation of downtrend.