mutchinyampho

GBP/CAD buy or sell opportuinity

FX:GBPCAD   Brittiska pund/Kanadensiska dollar
Strictly technical analysis. observing on the weekly time frame we can see that it is consolidating and price bounced off from the top meaning I was looking for selling opportunities and it did go lower. Now the market is correcting itself if you look down on the 4hr and daily it is forming an uptrend. It could possibly break below and make an impulse move to the bottom line of support in the consolidation area or it could continue in the uptrending channel and bounce off the trend line for a temporary buy to Retest the resistance at the top. I will be looking closely for buying or selling opportunities depending on how price reacts on Monday.

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