GBP/CAD - What to expect on a Daily Chart
Good morning traders, today we bring you a mid/long term analysis on the GBP/CAD pair.
🔸The price has been moving in a range for more than a year.
🔸Although the range is wide and we can draw various supports and resistances, we select the most immediate ones in which the price can find reversal zones.
🔸A few days ago, there was a rebound in the resistance zone, and if we take the previous situations, we should see a bearish move towards the support zone in the next few weeks. It is a journey of approximately 500 pips.
🔸Of course we cannot rule out the idea of ​​a breakout of the Resistance zone, and if that happens, the next Resistance zone is around 250-300 pips away.
🔸The price has been moving in a range for more than a year.
🔸Although the range is wide and we can draw various supports and resistances, we select the most immediate ones in which the price can find reversal zones.
🔸A few days ago, there was a rebound in the resistance zone, and if we take the previous situations, we should see a bearish move towards the support zone in the next few weeks. It is a journey of approximately 500 pips.
🔸Of course we cannot rule out the idea of ​​a breakout of the Resistance zone, and if that happens, the next Resistance zone is around 250-300 pips away.
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