GBPCAD: Bearish Targets Once It Breaks Trendline Support
1. GBPCAD bounced from the falling channel's resistance
2. A weekly close below the critical support & resistance of 1.7250 area
3. Hidden Bearish divergence in play to push it further down
4. Now it's holding the rising trendline support
Trade Idea:
Sell trade will be triggered on a break of the rising trendline and successful retest as a resistance.
Target 1 is 1.6620
Target 1 is 1.6280
Invalidation: Break above the resistance of 1.7250
2. A weekly close below the critical support & resistance of 1.7250 area
3. Hidden Bearish divergence in play to push it further down
4. Now it's holding the rising trendline support
Trade Idea:
Sell trade will be triggered on a break of the rising trendline and successful retest as a resistance.
Target 1 is 1.6620
Target 1 is 1.6280
Invalidation: Break above the resistance of 1.7250
Penafian
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