Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/CAD broke support zone
2019-11-11 • Updated
- GBP/CAD broke support zone
- Next sell target - 1.7400
GBP/CAD today broke the support zone lying between the key support level 1.7770 (which reversed the price with the daily Hammer earlier this month) and the 38.2% Fibonacci correction of the upward price impulse 1 from the start of January. GBP/CAD is expected to fall toward the next sell target at the next support level 1.7400 (monthly low from February and the target price for the completion of wave 2).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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