Gbpcad is looking good to short here as there are following reasons to short it
Reasons:
Trend is bearish
Market moving is downward channel
Moving Averages compression
Market holding at this area for a long time
Market breaks up and then starting to come back down again
Very sloppy vertical upward Trend line
Institutional traders likes these high reward...
SUMMARY:
The secondary trend of GBP/CAD is bullish on charts and price is trading above the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 2.0175 and support at the level of 2.0015. If it breaks its...
