From the technical view:
1. From the Monthly point of view, the price is forming the IHNS pattern, we can expect a further upside on GBPCAD
2. From the weekly point of view, price moving to the upside followed by a correction, and we can expect the next impulse to the upside soon.
From the fundamentals view:
1. Big players are bullish bias on GBP and bearish bias on CAD in the short term.
2. In the new report, more long and short positions closed on GBP, 8.9k of the long-closed and 8k of short closed, but the overall net positions still stronger according to the short-term analysis, we still can expect GBP will continue to be stronger and stronger. From the CAD, more long added and short closed, 2k of the long opened and 2.1k of the short positions closed, but the overall net positions in short term still weaken. Strong GBP and weak CAD, GBPCAD will move to the upside.
How to approach GBPCAD?
1. Overall the market environment is showing a bullish market on the 4h timeframe.
2. We also have the previous resistance turn support pattern at the moment, we can set the buy limit order according to your rules of the strategies
3. Make sure you follow risk and money management, always 1% risk on your account.
If you want my proper entry-level, SL and TP as your reference, comment down below let me know.
1. From the Monthly point of view, the price is forming the IHNS pattern, we can expect a further upside on GBPCAD
2. From the weekly point of view, price moving to the upside followed by a correction, and we can expect the next impulse to the upside soon.
From the fundamentals view:
1. Big players are bullish bias on GBP and bearish bias on CAD in the short term.
2. In the new report, more long and short positions closed on GBP, 8.9k of the long-closed and 8k of short closed, but the overall net positions still stronger according to the short-term analysis, we still can expect GBP will continue to be stronger and stronger. From the CAD, more long added and short closed, 2k of the long opened and 2.1k of the short positions closed, but the overall net positions in short term still weaken. Strong GBP and weak CAD, GBPCAD will move to the upside.
How to approach GBPCAD?
1. Overall the market environment is showing a bullish market on the 4h timeframe.
2. We also have the previous resistance turn support pattern at the moment, we can set the buy limit order according to your rules of the strategies
3. Make sure you follow risk and money management, always 1% risk on your account.
If you want my proper entry-level, SL and TP as your reference, comment down below let me know.