GBPCAD reaching support, potential bounce | 27 July 2020 Long

British Pound/Canadian DollarFXCM

Description

⋅ Jul 27, 2020 9:52 AM

Price is approaching support where we could see a bounce above this level.

Comments

Inlelake

⋅ Jul 27, 2020 3:19 PM

Is it time to short GC?

FXCM

⋅ Jul 28, 2020 8:48 AM

@Inlelake, for me I wouldn't go short yet as its still holding nicely above the trend line. Are you bearish on GC?

Inlelake

⋅ Jul 28, 2020 4:37 PM

@FXCM, I thought it needs to temporarily correct to trend line as shown on your picture. Therefore there is that limited down trade opportunity.

nrmt2010

⋅ Jul 27, 2020 11:18 AM

Great analysis. Thank you...

FXCM

⋅ Jul 28, 2020 8:44 AM

@nrmt2010, you're welcome!