GBPCAD, Daily
In the Daily timeframe, GBPCAD, in a long-term bullish trend, hit a yearly high. Price is forming an ascending triangle with a divergence forming on the MFI.
- A break above the resistance at 1.8100 will open the way to 1.8400;
- However, if the price breaks the trend line below 1.7980, GBPCAD will fall to 1.7700;
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Egor Schmidt
