GBPCAD: Indecision & Two Scenarios Explained 🇬🇧🇨🇦

١٢ يوليو ٢٠٢١

Hey traders,

GBPCAD is approaching an important daily resistance cluster.
Depending on the market reaction to that structure I see two potential scenarios:

• Bullish
  In case of a daily violation (daily candle close above) of a yellow zone,
  I will expect a bullish continuation to 1.75 level.
  
  
• Bearish
  In case of a bearish breakout of a rising parallel channel on 4H,
  a pullback will be expected to 1.72
  (note that if the price will go above the underlined yellow resistance, the setup will be invalid)
  

Wait for the needed breakout & follow the market!

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١٣ يوليو ٢٠٢١

ملاحظة

Check my new idea on EURGBP: