Good morning traders, today we bring you our analysis on the daily chart of GBP/CAD, as it has a potential downside move in the short term.
🔸This pair has been without a clear trend for more than a year, moving within a range.
🔸In the area that it is currently in, there was always some type of correction/consolidation as we can see in the previous scenarios.
🔸Once the correction is broken, the movement tends to continue the previous trend.
🔸Therefore, we now expect a break to the downside to be generated, and a bearish move towards the next support zone, which is at 400 pips.
🔸This pair has been without a clear trend for more than a year, moving within a range.
🔸In the area that it is currently in, there was always some type of correction/consolidation as we can see in the previous scenarios.
🔸Once the correction is broken, the movement tends to continue the previous trend.
🔸Therefore, we now expect a break to the downside to be generated, and a bearish move towards the next support zone, which is at 400 pips.