Forex GBP/CAD - D1 Technical Analysis Our expectations:
Medium-term short trend, followed by long adjustment. There are signs for the end of the correction, the price can not breakthrough the resistance, about 1.77 and probably here the bears will prevail and give the force of a new bearish impulse.
Price action: Pin bar on resistance levels
Indicators:
A false breakthrough 50% Fibonacci, the price sharply turns, giving a price action signal to decrease.
Price over 50 and 200 SMA
Stochastic, turns below 0.8 - decrease signal.
SL: 1.78
Alternative scenario: Break above the main resistance zone, about 1.77 means that the movement is taking upward and possibly leading to a test of high at about 1.84
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