The GBP/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Double Bottom Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Double Bottom After Confirmation. Ideally, This Would Be Around 1.7433.
Target Levels:
1st Resistance – 1.7520
2nd Resistance – 1.7573
Stop-Loss: To manage risk, place a stop-loss order below 1.7395. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Double Bottom After Confirmation. Ideally, This Would Be Around 1.7433.
Target Levels:
1st Resistance – 1.7520
2nd Resistance – 1.7573
Stop-Loss: To manage risk, place a stop-loss order below 1.7395. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
Trade active
Note
GBP - CPI - Next 4 HoursNote
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Related publications
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.