The secondary trend of GBPCAD is sideways on charts. In its 4 hourly chart, the pair is not sustaining at higher levels and is likely to give break out at downside. Prices are consolidating with strong negative bias and its 30 and 200 DMA are also providing resistance to the prices supporting the further down-trend. If it breaks its support level of 1.9770 & sustains below it then it is expected to show further bearish movement in next few days.
INDICATORS:-
In MACD
Prices are sustaining in the selling territory, supporting the down side movement in the market.
RSI - Prices are sustaining near selling territory, indicating the downside movement in the market.
STRATEGY:- GBPCAD is looking bearish on charts for next few session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
INDICATORS:-
In MACD
Prices are sustaining in the selling territory, supporting the down side movement in the market.
RSI - Prices are sustaining near selling territory, indicating the downside movement in the market.
STRATEGY:- GBPCAD is looking bearish on charts for next few session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.