Another possible setup for GBP cross is GBPCAD pairs.
I am looking for a sell position in this pair as my screener showing this pair could go lower.
Some confirmations already met and we could try selling this pair on a retracement to 1.7100 area.
Noticed also it looks like this pair making a pattern and i think price already breached the neckline once with a solid candle close below it on 4hr tf. Price then bounce from the neckline support but it only bounced a litte compared to the previous bounce.
I think we could see price continue south soon so we will set a sell limit order to get a more rewarding RR ratio
Sell limit GBPCAD 1.7100
Stop loss 1.7160
Take profit 1 at 1.7040
Take profit 2 at 1.6980
Take profit 3 at 1.6920
RR Ratio is 1 : 3
Use only 1-2% risk
If you find this post useful please drop a like and follow me for my next update