Monitoring GBPCAD
Base on the uncertainty in the Brexit issue many traders are selling GBP but I stick with the trend. Looking at the weekly chart, you will notice that RSI is trading withing the upward trendline and the pair is trading inside a channel. Moving Average is acting as a leading indicator here.
Using a 12 hour chart to analyze will show you that buying at 1.68762 with a stop loss at 1.67000 is a good decision. On the downside a break of the 1.6757 will invalidate this view.
Using a 12 hour chart to analyze will show you that buying at 1.68762 with a stop loss at 1.67000 is a good decision. On the downside a break of the 1.6757 will invalidate this view.
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