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GBP/CAD Potential Downward Movement

GBP/CAD Price Long-Term: Bearish

Key Resistance Levels: 1.7432, 1.7593, 1.7673

Key Support Levels: 1.7245, 1.7115, 1.6965

Daily Chart:

The pair is in a clear downward movement where the price is posting lower lows and highs. Currently, we are in a correction count, once finished a move downward is expected in the same direction of the main trend.

GBP/CAD Medium-Term Trend: Bearish

1-hour Chart:

On the 1-hr time frame, the price is trading inside a bearish flag formation where it represents a correction count to the upside. The price faced an area of confluence between the daily support and the 50% Fibonacci retracement @ 1.7432. This might lead to a move to the downside to the 1.7310 USD level.

Signal Idea:

Sell Limit Order @ 1.7432

TP 1 @ 1.7310

TP 2 @ 1.7245

Stop Loss @ 1.7493

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.


  1. How can we learn and earn at the same time

  2. parvin shomalzadeh

    Hi how do you use the signal?

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