GBP/CAD Sell Trade Idea
Technical Analysis:
Resistance Level: GBP/CAD has reached a strong resistance , which has been tested multiple times without a breakout. Sellers have shown strength at this level.
Candlestick Pattern: A potential Bearish Engulfing pattern has formed on the 4-hour chart, suggesting a possible reversal from the current resistance.
Indicators:
RSI is approaching the overbought zone, currently around 70, indicating that the pair may be overextended.
Fundamental Analysis:
Ongoing concerns around the UK economy and uncertainties regarding the Canadian dollar due to oil price fluctuations make the case for a weaker GBP and stronger CAD in the near term.
Risk Management:
Ensure to adjust the position size according to your risk tolerance and keep your risk below 1% of your total capital.
Resistance Level: GBP/CAD has reached a strong resistance , which has been tested multiple times without a breakout. Sellers have shown strength at this level.
Candlestick Pattern: A potential Bearish Engulfing pattern has formed on the 4-hour chart, suggesting a possible reversal from the current resistance.
Indicators:
RSI is approaching the overbought zone, currently around 70, indicating that the pair may be overextended.
Fundamental Analysis:
Ongoing concerns around the UK economy and uncertainties regarding the Canadian dollar due to oil price fluctuations make the case for a weaker GBP and stronger CAD in the near term.
Risk Management:
Ensure to adjust the position size according to your risk tolerance and keep your risk below 1% of your total capital.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.