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GBP/CAD Potential Upward Movement

GBP/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.71905, 1.72252, 1.72883

Key Support Levels: 1.71246, 1.70452, 1.69914

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it swept liquidity under the EMA and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

GBP/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It recently broke a consolidation zone of 1.69914 and 1.70452 and has sustained above that. As of now the pair has broken and retested a minor level of 1.71246 before continuing the momentum. 

Signal Idea:

Buy Limit Order @ 1.71557

TP @ 1.71884

Stop Loss @ 1.71193

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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