GBP/CAD reversed from support area

GBP/CAD reversed from support area

  • GBP/CAD reversed from support area
  • Next buy target - 1.732

GBP/CAD recently reversed up from the support area located between the major support level 1.7040 (which stopped the sharp downtrend at the end of May) and the lower daily Bollinger Band. The upward reversal from this support area is set to create the daily Japanese candlesticks reversal pattern Hammer. Given the oversold daily Stochastic, GBP/CAD is expected to rise further toward the next buy target at the next resistance level 1.7320.

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

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