GBPCAD Will Go Lower From Resistance! Sell!
Updated
Please, check our technical outlook for GBPCAD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.691.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.676 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Note
I am confident in this trade so I will keep it open!
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