The market has a bearish order flow. On the 4H timeframe, it created lower lows. Recently, FX:GBPCAD has broken through the downward trendline and made a higher close on the 1H timeframe. The market is near the resistance zone, where price dropped before. I think the market may retest that level and make a downward move. It seems like the price might form a range zone between 1.71500 and 1.7000. I expect the price to form a long-tailed bar as a sign of the level rejection and short confirmation. My goal is to support level 1.70860
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻