Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/USD: a good chance for the British pound
Recommendation:
BUY 1.3135
SL 1.308
TP1 1.3235 TP2 1.327 TP3 1.3315
On the daily chart of GBP/USD, the pair may test the diagonal resistance (the upper boundary of the downward channel). If bulls succeed, the pair will reach the 1.327-1.3315 convergence and the "Double bottom" pattern will be implemented.
On H1, after the pair reached the 88.6% target of the "Bat" pattern, a pullback happened. Usually, a break of 78.6% and 88.6% levels of the CD wave leads to the continuation of the upward movement.
Ivan Karamazov
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