GBPCAD Fails To Hold Above 1.7285
Three major price action points to take notes of:
1. Buying strength pushes price above the 1.7285 upper boundary of this range. At this point, I'm watching to see if price can sustain. If it holds, we can expect further upside.
2. This is the first indication of exhaustion as price forms a pinbar when it fails to break above the previous high.
3. Directional bias is now bearish as price not only fails to trade higher but also goes back below the 1.7285 upper range boundary.
1. Buying strength pushes price above the 1.7285 upper boundary of this range. At this point, I'm watching to see if price can sustain. If it holds, we can expect further upside.
2. This is the first indication of exhaustion as price forms a pinbar when it fails to break above the previous high.
3. Directional bias is now bearish as price not only fails to trade higher but also goes back below the 1.7285 upper range boundary.