Hey traders,
GBPCAD is approaching an important daily resistance cluster.
Depending on the market reaction to that structure I see two potential scenarios:
- Bullish
In case of a daily violation (daily candle close above) of a yellow zone,
I will expect a bullish continuation to 1.75 level. - Bearish
In case of a bearish breakout of a rising parallel channel on 4H,
a pullback will be expected to 1.72
(note that if the price will go above the underlined yellow resistance, the setup will be invalid)
Wait for the needed breakout & follow the market!
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Note
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.