spesfinancial
Long

GBPCAD Possible long setup

FX:GBPCAD   British Pound / Canadian Dollar
61 0 2
After a fake downside movement, GBPCAS has go back above 2.0550 support, which confirms this support zone effective. If price stays above this zone, I'd like to look for long entries. If we ignore yesterday's fake movement, we could see a perfect upside trendline , and today I'd like to wait for long signal based on this trendline . Now it needs some consolidation before breakout happens, and another fake downside movement will give me more cofidence on entering long. It may be a good opportunity for a mid-term trade as there is no clear resistance under 2.0950 zone, but as a intraday trader, especially on Friday, I'd like to complete this trade before weekend's coming.
Trade closed: target reached: We have two opportunities to enter long position today, one is at 2.0675 and another is at 2.0734. It is a good intraday trade. As target is nearly reached, I'd like to close all positions before weekend.
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