GBP/CAD Potential Upward Movement
Key Resistance Levels: 1.74975, 1.76240, 1.77000.
Key Support Levels: 1.73185, 1.72250, 1.71643.
The price on the higher time frame posted an engulfing bullish pattern around a strong daily support at 1.73185 CAD mark. This led to a move to the upside where a slight correction has been posted after breaking the 1.7420 CAD resistance.
GBP/CAD Medium-Term Trend: Bullish
On the lower time frame, the price posted a double bottom after break the Wyckoff accumulation phase to the upside. We expect further movement to the upside in the coming hours in the same direction of the main trend.
Buy Limit Order @ 1.74186
TP 1 @ 1.74965
TP 2 @ 1.76240
Stop Loss @ 1.73992
Trade Safely 🙂