GBPCAD - Confirms Long Opportunity on Parallel Channel Break

FX:GBPCAD   British Pound/Canadian Dollar
Greetings Fellow Traders,

Structural update for GBPCAD             shows 2 very important characteristics that occurred within the last 2 days of trading. First and foremost the Parallel Channel that was identified caused a market reaction and then was confirmed broken. Furthermore...the key technical level that has been suppressing the GBPCAD             from any bullish advancement has finally been confirmed to be broken.

There are 2 ways to trade this opportunity, personally I will wait for the retest of the parallel channel . However, do to the nature of the 2.03300 level it's possible that the trade will not become active.

Trade Opportunity:

Buy Limit 2.0260 or Manual Entry
Stop Loss 2.0175
Take Profit 1: 2.0500
Take Profit 2: 2.0800

Please do your own analysis before entering a trade. If you like what you see, feel free to share it, follow, comment or "like"

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