GBP/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.7328, 1.7451, 1.7500
Key Support Levels: 1.7215, 1.6990, 1.6950
The price on the higher time frame failed to break the strong support around the 1.7200 USD mark where the pair posted a bar with huge candlestick to the downside which shows that the bulls are coming back. We expect a reversal in this move and a move to the upside.
GBP/CAD Medium-Term Trend: Bullish
On the lower time frame, the pair succeeded to break the bearish channel formation to the upside and moved higher. A lower correction to the horizontal red line before a new move to the upside toward the target profit.
Buy Limit Order @ 1.72673
TP 1 @ 1.73167
TP 2 @ 1.74510
Stop Loss @ 1.72457
Trade Safely 🙂