After testing the pair to the 108.9 area, we created ... which assures us somewhat that the pair will be trading in the coming days at a price of 107.6 and lower.
The pair will be trading at a price of 1.22430 to a price of 1.23500
We have a break of the upper trend line and it has been tested and we have a bullish candle, which roughly shows us the known price behavior and thus we can take a long-term trade on the GBPCAD
We have a bullish trend and a break of previous peaks with pin bar formed is a confirmation of the bulls' strength over the bears with a target of 76.600 for us. As for a pair, it has a target of 76.900, but in order to avoid the large number of pending selling orders at the target of 76.900, we will keep our target far from that area.
After the price action, which formed a triangle, in the picture the ideal was penetrated from the top and tested for two days, which resulted in us completely rejecting the bulls. We are very likely to go up
After ascending with a engulfing candle, it was accompanied by a rejection of a similar candle at the upper line of the price channel, which turned the cuff for the bears to restore control of the situation and drop the pair down