GBPCAD - A fakeout or a hint of a trend reversal - we shall see

FX:GBPCAD   British Pound / Canadian Dollar
139 5 8
As the Stochastics enter the oversold area I expect the Pound to pull back to at least previous support at 1.7945. This area/level will be my entry if I see that this previous support will hold as resistance and we might see the pair break the 1.7850 area and break the uptrend. If so one can get a whole lot of pips in a middle term southbound trade

Be aware of fakeouts and the possibillity that this pair will continue to range between 1.7850 and 1.82
hmm your chart is a 5min chart and my analysis is on the daily.. so I dont see your point )
see it now, ok lets see what level a possible pulllback migth land and what happens after that
+1 Reply
4 hour chart :)
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