tigo2020
Short

GBPCAD - A potential shorting opportunity to 1.79 zone

FX:GBPCAD   British Pound/Canadian Dollar
71 0 0
I am favoring a move lower in GBPCAD             since price is at a major resistance zone .
I can also observer a hidden bearish divergence (price made a lower high while stochastic is making a higher high).
Stochastic is also in the overbought zone.

** Given the drop in OIL             prices, GBPCAD             may still rise to 1.85 zone. So, I will drop to the H4 & H1 time frames to try to see bearish signs (i.e. bearish candle stick formations, H&S patterns, etc.) before shorting.

** No trade is taken until now
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