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Breakdown

GBPCAD Ascending Channel I am liking this Ascending Channel I expect it to make its way toward support, Could break below and go to 2nd major support, Which would also be the bottom of the Channel. The RSI is also signaling BEARISH DIVERGENCE. So we will keep an eye on that. I am reposting a rough chart I posted earlier because it was blocked for the reason of breaking the rules of this website. I put a link to my discord, which is not allowed. So here is a picture of the orignal analysis. This one I just reposted is cleaner anyway. Lol DONT MAKE A TRADE JUST BECAUSE A STRANGER ON THE INTERNET HAS A COMPELLING ANALYSIS> Make sure you do your own analysis The picture below is my original analysis. :)
Short
by Wickalodeon-GhostProductions
USDCAD - Facing a Critical Resistance area!USDCAD has faced a critical resistance area with a trendline resistance at 1.27500. This resistance is behaving a strong zone and now as the sentiment is not good maybe it will get respect again. So if sellers are still incharge they can easily drag the price towards 1.26500 to 1.25500 level or further towards the next support zone. On the other side if the buyer gets control (although not easy at all) they can push the price to 1.28500 and that is a fib level resistance also. On breaking that level than can eye 1.3000 level. Good Luck!
by JustTradeSignals