GBPCAD Waiting for the 1D MA200 to confirm the bottom.

9 OgoThe GBPCAD pair broke this week below its 1D MA50 (blue trend-line) and is (including today) on a 2 day green streak. However this is technically not convincing for us to buy as despite holding the Internal Higher Lows trend-line, it is the 1D MA200 (orange trend-line) that has confirmed the major Higher Lows (bottoms) of the 11-month Channel Up.

In fact, it was a similar Internal Higher Lows trend-line that broke on April 01 2024 and despite a short-term rebound, broke downwards to confirm a bottom on the 1D MA200. As a result, we are waiting for that ideal technical opportunity to long and target 1.8000.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇