GBPCAD TECHNICAL ANALYSIS & SETUP WEEK 24 FEB 2020

GC HAS FORMED A H&S PATTERN IN BETWEEN THE 23 JAN 20 AND THE 13 FEB 20,
THE LAST INTENT TO RESUMES THE TREND ON THE 13 FEB PRICE FAIL TO GO HIGHER BREAKING THE 1.71138 INDICATING A NEGATIVE DEVELOPMENT FOR THE PAIR

PRICE TARGET PROJECTIONS ARE:

@1.68866
@1.67461

H4 INDICATORS

RSI BELOW 50%
STOCHASTIC @ OB 80%
PRICE BELLOW 50% MA

MARKET CALENDAR

THUR 27 FEB 10 AM EUR CPI
FRID 28 FEB 7 AM UK MOM
FRID 28FEB 13:30 CAD GDP


PAIRS THAT CORRELATE: GBP/USD, GBP/NZD, GBP/AUD

The GBP/CAD is the pairing of the British pound and the Canadian dollar.
This pair is most active during the euro and U.S. sessions.
Some notable news releases affecting the pair include the Bank of Canada rate decision
and Ivey purchasing managers index as well as the UK trade balance and consumer price index.