forextamil

GBPCAD: Broadening Wedge Breakout Offers Possible trade.

FX:GBPCAD   British Pound / Canadian Dollar
Hello traders,

Descending Broadening Wedge yet to break the trend resistance and ready to fly away. The pair might find it hard to justify its strength unless clearing the resistance confluence @ 1.7165. On a daily basis, the descending trend has a clear way to break the resistance. The Breakout should highlight bull's area, the 1.7280 and the 1.7285 are the bull's favourite. (buyers)

On the contrary, the trend support at 1.6920 may offer an instant halt and witness the pullback action for the price reversal. Further decline could drag the price range to the 1.6825 and the 1.6720.
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