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GBP/CAD technicals & trade setup

FX:GBPCAD   British Pound/Canadian Dollar
131 0 5
GBP/CAD's lingering pessimism at 7DMA restrains further bullish prevalence -boundary binaries to speculate within 100 pips:

The pair has tested support near 1.9013 (7DMA) and bounced to the current levels of 1.9066.

Despite the attempts of upswings the current prices are lingering at 7DMA.

Sideway trend slipping as the bears to resume again as stiff resistance seen at 7DMA, RSI & Stoch diverge to previous upswings.

Cautious for intermediate uptrend on weekly charts: It seems bulls taking halt at 1.9285 levels, that is where a shooting star has occurred to signify weakness, at this juncture in the past you can see how prices tumbled upon the formation of same bearish pattern .

But both leading and lagging indicators still signal buying momentum , so it has been a bit puzzle.

Well, it has been projected as sideway swings on daily term may head towards bearish trend continuation.

Divergence of leading oscillator ( RSI ) is traced out when prices were rallying, this would be deemed as the upswings are attempting to take halt and continue the major trend which is bearish .

The attempt of %D line crossover on slow stochastic at 40levels has been a caution for aggressive bulls.

Hence, the intraday trend has been stiff but one can get benefitted from the boundary binary options as the leading indicators suggest contraction in ongoing buying momentum . Thus, it is good to buy boundary binary options choosing strikes within the range of 100 pips at spot reference 1.9075 for minimum targets of 50-60 pips on either sides, use 1H expiries to fetch desired results.
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