GBPCAD has retraced the upward move from last month back down to support at 1.695-1.7. Price has accepted above the 1.7 level and furthermore volatility over the past 4 days has dropped significantly suggesting a large move is coming. The move will more likely be to the upside in line with the major trend over the past 3 months and bullish fundamentals for GBP.
Entry at a clean break and close above 1.71 on the 4H.
SL back behind lows 1.693.
My short term target is at 1.772, longer term target for this pair at 1.9.
Entry at a clean break and close above 1.71 on the 4H.
SL back behind lows 1.693.
My short term target is at 1.772, longer term target for this pair at 1.9.