Here is my view for GBPCAD on H4. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
GBP-CAD broke the falling resistance line
Which makes me locally bullish on the pair
And I think that after the pullback and retest
Of the broken line and horizontal support at 1.59500
e will see a move up Towards horizontal resistance at 1.629
GBPCAD is constantly trading in a parallel channel pattern for a very long time so, we might see trend continuation for more time. After the breakout from the parallel channel, we might see some downside in GBPCAD.
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Hello traders. So here is our analysis on GBPCAD . Its a very simple analysis. We have used SUPPORT and RESISTANCE line. The pair is moving inside its CHANNEL for a long time now but has respected its support and resistance line every time. Now as we can see that the pair has hit its resistance line it has started to fall down.
One can see it with TP=1.60000...
Price of GBP/CAD approaching bottom of upside channel. We should soon see an impulse to the upside back to the 200 MA, 1.7205.
Non Commercials are sill positioned long on GBP. As for CAD, situation is slightly neutral. Price correction to the upside of USD/CAD pair has already started, which means further confluence for the analysis.
Short term we want to see...
