Good morning Traders, today we entered long on GBP/CAD with target 1.72, in the 0.5 fibonacci zone which corresponds to the opening of the candle on May 15.
Considering that last week the pair had little volatility, the 1.714 breakup could give further upward momentum. A good entry point could be in the 1.705 zone.
On the daily the GBP/CAD is supported by the MA 200 so we will have confirmation of trend change at the break of the MA 50 periods.
The most important thing is money management, never enter with bigger lots than you can't sustain.
Considering that last week the pair had little volatility, the 1.714 breakup could give further upward momentum. A good entry point could be in the 1.705 zone.
On the daily the GBP/CAD is supported by the MA 200 so we will have confirmation of trend change at the break of the MA 50 periods.
The most important thing is money management, never enter with bigger lots than you can't sustain.