Potential Buy Stop at 1.7620
Multi Timeframe Analysis
Weekly
GBPCAD continued trending north since Jan 4. A red candle just appeared signifying potential retrace. Currently strong weekly resistance could stagger future growth. The master trend, however is LONG.
Daily
GBPCAD on the daily just hit the strong W1 resistance and retraced. It is attempting a move northward.
Recommendation
Do not take any long positions until the pair has breached beyond the strong W1 resistance. Potential Buy stop at 1.7620 after confirming bullish signals on 4H
Weekly
GBPCAD continued trending north since Jan 4. A red candle just appeared signifying potential retrace. Currently strong weekly resistance could stagger future growth. The master trend, however is LONG.
Daily
GBPCAD on the daily just hit the strong W1 resistance and retraced. It is attempting a move northward.
Recommendation
Do not take any long positions until the pair has breached beyond the strong W1 resistance. Potential Buy stop at 1.7620 after confirming bullish signals on 4H