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GBP/CAD Bullish Move as Long as the Price is Above 1.7200

By:
Nenad Kerkez
Published: Feb 13, 2020, 08:52 GMT+00:00

The GBP/CAD is still in uptrend. If the market stays above 1.7200 we can expect uptrend continuation.

GBP/CAD Inverted Head And Shoulders Pattern On Intraday Time Frame

Dear Traders,

The GBP/CAD is still in uptrend. If the market stays above 1.7200 we can expect uptrend continuation.

A strong 4h close above 1.7200-1.7223 will make a decisive move forward towards higher targets. Until that happens, the trend is still bullish but the price might drop. The best scenario is a close above W H3 pivot – 1.7223 and then we shouldsee a move towards 1.7250 and 1.7323. As long as the price hovers below 1.7200, we might see another drop lower.

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The Analysis has been done with the CAMMACD.Core and Sit Systems

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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