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ForecastCity
Feb 20, 2020 1:35 PM

Don't miss the great sell opportunity in GBPCAD Short

British Pound/Canadian DollarFXCM

Description

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.7125). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. GBPCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.

Take Profits:
TP1= @ 1.6958
TP2= @ 1.6635
TP3= @ 1.5874

SL: Break Above R2
Comments
Best_Forecast
Thank You for sharing!
ForecastCity
@Alexander_007, You're welcome. we hope you find it useful on your own trades.
Best_Forecast
This is such a complete analysis,
ForecastCity
@Alexander_007, we are happy you liked it.
fxniki
Thanks for sharing it.
ForecastCity
@fxniki, You're welcome. we hope you enjoy it.
Pro_Trader_007
Thank You
ForecastCity
@Pro_Trader_007, You're welcome.
zakwall
Thank you again!
ForecastCity
@zakwall, You're welcome.
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