This is my view on this cross for the next few days.
Waiting for today's candle closing below yesterday to confirm a bearish environment. Then I personally waiting for the impulse to end and a retracement as well.
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only...
Here is a mark up on GBPCAD as I see it. I am attempting to fade the strength in the Pound against the Canadian Dollar which is currently coming off of 2021 highs. It is a 3-1 risk reward and I am looking for another rotation down to where there was a large impulse move up on the February 4th 2021.
GBPCAD is preparing for a nice short opportunity, watch lower time frame to see how price action is reacting and lets see how market is gonna react on the critical areas! be safe if you are in from top and manage the trade!
1- While price was consolidating confermed a very strong support.
2-The price broke the support area without retesting ,
retesting is happening now so i expect everyone to sell gbpcad below the previous support.
3-I feel so confident
that everyone's sl is gonna be above this area
so i expect the marketto take everyone out,
After opening lower than Friday's close GBPCAD has made a nice run back up to the bottom of its 2 day range. Now that those lows have been swept, I expect that there is opportunity for the pair to go on a nice run. From a fundamental aspect, The Pound has taken a breather after a rather dominant 2020 however, paired against the Canadian dollar I expect for it's...
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🟢 Forex Pair :
⚪ Technical Analysis :
Since the 20th of January 2021, the price has been moving with a clear uptrend, reaching a...