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GBP/CAD Potential Upward Movement

GBP/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.7328, 1.7451, 1.7500

Key Support Levels: 1.7215, 1.6990, 1.6950

Daily Chart:

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

1-Hour Chart:

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.

Signal Idea:

Buy Limit Order @ 1.72673

TP 1 @ 1.73167

TP 2 @ 1.74510

Stop Loss @ 1.72457

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.

7 comments

  1. Hi Patrick, where do you do your trade result updates for each weeks vip results

  2. Is this signal valid or triggered??

  3. GOOD DAY SIR
    PLEASE AM A NEW FOREX TRADER
    AND I DON’T KNOW HOW TO PLACE THE TRADE
    PLEASE HELP ME

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