Tuesday 3 April 2018

GBP/CAD Continues Falling




After forming the spinning top candlestick on the weekly time-frame at 1.8415 GBP/CAD did indeed begin to move to the downside and eventually it also formed a shooting star candlestick on the same time-frame, which is an even better signal for a further drop. What is more, the pair also broke out below the support at 1.8030 and is currently still moving to the downside. The retracement will likely continue and the closest support will probably be around 1.7780. A breakout below that level could lead to a further drop towards the (MA)89 indicator on the daily time-frame, which is currently at 1.7570.
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2 comments:

  1. Unknown4 April 2018 at 12:42

    It's bearish for the moment.

    ReplyDelete
  2. Unknown6 April 2018 at 02:52

    There is still space to retrace until the support of the daily uptrend channel.

    ReplyDelete

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