GBPCAD SET FOR A BEARISH RIDE
GBPCAD found a strong resistance around the 1.73000 level and the bears seems to have a strong momentum in the market. It wasn't so safe to dive into the market at the very first touch of the resistance level, as you can see more price action like the break in the short term trend support are beginning to form which further validates this trade. as I strongly advice for price to retrace half the level of the zone(1.72500) before getting in.
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.