justatrader
Long

GBPCAD - Bigger Picture

FX:GBPCAD   British Pound/Canadian Dollar
97 0 0
GBPCAD             has been in an extreme uptrend. Since the last 2 days price saw a quick rally to the downside. Note that a bullish flag was formed, which was validated by price. However, the final target wasn't reached yet.

Current price action set up points to a big correction (which could indicate the final push needed to making a new high).

CCI 40 marks a 20 day price HL/2. It shows that price is in an uptrend with the CCI only making short drips at the 0-line.

Look to the CCI for clues on a potential reversal along the Fib lines that measure the previous upward swing.
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