Hi Traders,
This is my view on this cross for the next few days.
#GBPCAD
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...
⭐️Key Takeaways⭐️
✔️ Bearish bias at this level of resistance
✔️ Canadian GDP on Friday came in better than expected.
✔️ Pound was one of the top performing currencies last week
⭐️Technical Analysis⭐️
Daily doji suggests the bulls are starting to get exhausted. 1 hour however doesn't look too aggressive towards the downside just yet which leaves me to believe...
Hello traders, here is the analysis for GBPCAD. NOTE please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
Price is testing our support in line with our horizontal overlap support, 61.8% fibonacci retracement and 78.6% fibonacci extension where we could see a bounce to our first resistance level. Attached is the written version so do check that out as well and let us know what you would like to see next!
In the video our lead trader, Denis Popivoda, explains a trading plan of this initially swing trade, that might be compounded into a day trade (and swing trade).
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Feel free to leave your opinions on why you AGREE or DISAGREE with my trade analysis! Would love to know your perspectives!
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You can track the progress of the trade by clicking the chart below!...
