GBP/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.69209, 1.69473, 1.69626.
Key Support Levels: 1.68942, 1.68713, 1.68566.
1-Hr Time Frame:
The price on the higher time frame failed to break the strong support around the 1.68955 CAD mark where it posted an engulfing bullish pattern signaling that the bears were trapped. This could lead to a move higher in coming hours.
GBP/CAD Medium-Term Trend: Bullish
10-Mins Time Frame:
On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction could be seen to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.
Buy Market Order @ 1.68943
Target Profit 1 @ 1.69209
Target Profit 2 @ 1.69473
Stop Loss @ 1.68678
Trade Safely 🙂