Sell GBPCAD Channel Breakout

The GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 1.7518, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels:
1st Support – 1.7464
2nd Support – 1.7430

Stop-Loss: To manage risk, place a stop-loss order above 1.7565. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

Thank you.

Dagangan aktif

Today Expecting High Movements :
GBP - GDP & Trade Balance
EUR - German CPI
USD - CPI

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