GBP/CAD Bearish Scenario by ThinkingAntsOK
DAILY CHART EXPLANATION:
🔸 This pair is on an uptrend.
.
🔸 However, it could not consolidate above the Resistance Zone, and was rejected strongly.
.
🔸 Now, it is breaking the Ascending Trendline to the downside, so, we consider it can start a downside move in the short term.
.
🔸 In case the direction is clear, we will look for a lower timeframe setup.
4H CHART ANALYSIS:
🔸 This pair is on an uptrend.
.
🔸 However, it could not consolidate above the Resistance Zone, and was rejected strongly.
.
🔸 Now, it is breaking the Ascending Trendline to the downside, so, we consider it can start a downside move in the short term.
.
🔸 In case the direction is clear, we will look for a lower timeframe setup.
4H CHART ANALYSIS:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.