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GBP/CAD Potential Upward Movement

GBP/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.68477, 0.68871, 0.69000.

Key Support Levels: 0.68083, 0.67756, 0.67414.

1-Hr Time Frame:

The price on the higher time frame succeeded to break the bearish to the upside after posting an engulfing bullish pattern showing that the buyers are in control of the market. Further movement to the upside could be seen especially if the 1-hour bar closed above the resistance.

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 posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 1.66671

Target Profit 1 @ 1.67012

Target Profit 2 @ 1.67374

Stop Loss @ 1.66295

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.

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