GBP/CAD:
Our expectations: Possible raise of the pair from the horizontal support of 1.75500 with no break. Doji bar on levels of horizontal support. Correction to the breakthrough of the resistance. A flag formation for possible long with close stop loss. The trend may have turned.
Alternative scenario: Price passing below 1.75400 will spoil the signal for a long.
Comment: The British pound is likely to remain strong as the US dollar remains under pressure.
Price action signal for a decline: A doji bar on a horizontal support and a flag formation - a signal for possible long position
DEM: The indicator is out of the overbought zone but still has not turned up for a long position signal.
Senan Fuchedzhiev - Trader
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