The GBPCAD has an inverted FALSE BEAR FLAG pattern.
The current price is topping at the channel top of that pattern, whilst we we have an overdone Stochastic RSI, which suggest we may see a little lower before we go towards 1.7350 medium-term.
For now sell GBPCAD 1.7050-1.7065 and place stop-loss 1.7107. Profit lower channel range 1.6887 for now.
The current price is topping at the channel top of that pattern, whilst we we have an overdone Stochastic RSI, which suggest we may see a little lower before we go towards 1.7350 medium-term.
For now sell GBPCAD 1.7050-1.7065 and place stop-loss 1.7107. Profit lower channel range 1.6887 for now.
Note
Change stop-loss to 1.7117 for now. no change in view and feel we see lower short-term before we go upwards.
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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.