GBPCAD - I will be watching for a rejection candle between 1.76600- 1.77800. Most traders will set up a buy as it looks like the channel will be broken. However i believe that this is a bull trap.
If there is no rejection at this zone, and price print a big bullish candle closing over this zone then this will indicate a bull run.
wait for a rejection daily candle at.86200-.86300 area from there we will soon see .81200. keep in mind that this is a long term trade. If there is no rejection candle then there will be no trade. price will have to get rejected at this area.
YOU CAN BUY A SHORT TERM POSITION TO 1.32200
YOU CAN ENTER NOW OR PRICE CAN ALSO DIP A BIT MORE TO ABOUT 1.292 YOU CAN PLACE A BUY HER AS WELL.
LONG TERM WE WILL SEE THIS PAIR RISE BUT ULTIMATELY FAIL AND COME CRASHING BACK DOWN.