Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/USD: bears can pull the pair down
Recommendation:
SELL 1.2705 SL 1.276 TP1 1.2605 1.2505 TP3 1.2405,
BUY 1.2925 SL 1.287 TP1 1.3025 TP2 1.3065 TP3 1.3315
On the daily chart of GBP/USD, bears managed to pull the pair to the lower border of the triangle. If they break the support at 1.27, the pair will continue to move towards the 161.8% target of AB=CD.
On H1, breaking of the support at 1.2705 will move the pair downwards to the line of the “Three Indians” pattern and 161.8% target of AB=CD. On the other hand, if the resistance at 1.2925 is broken, the “Broadening wedge” pattern will be activated.
Ivan Karamazov
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