Good morning traders, today we bring you a mid/long term analysis on the GBP/CAD pair.
🔸The price has been moving in a range for more than a year.
🔸Although the range is wide and we can draw various supports and resistances, we select the most immediate ones in which the price can find reversal zones.
🔸A few days ago, there was a rebound in the resistance zone, and if we take the previous situations, we should see a bearish move towards the support zone in the next few weeks. It is a journey of approximately 500 pips.
🔸Of course we cannot rule out the idea of a breakout of the Resistance zone, and if that happens, the next Resistance zone is around 250-300 pips away.
🔸The price has been moving in a range for more than a year.
🔸Although the range is wide and we can draw various supports and resistances, we select the most immediate ones in which the price can find reversal zones.
🔸A few days ago, there was a rebound in the resistance zone, and if we take the previous situations, we should see a bearish move towards the support zone in the next few weeks. It is a journey of approximately 500 pips.
🔸Of course we cannot rule out the idea of a breakout of the Resistance zone, and if that happens, the next Resistance zone is around 250-300 pips away.
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.
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.