GBPCAD The RSI hasn't been this oversold since 1985!
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The GBPCAD pair has been on a strong yearly decline, especially as of late. The 1M (monthly) RSI is currently at 20.87, the lowest it has been since January 1985. That is a good enough reason of its own to buy the pair. There are striking resemblances with the early 2000s fractal. A rebound on the Channel Down pattern's bottom can push the price all the way to its top and the 1M MA50 (blue trend-line). Be ready to offset some risk though to complete a -24.85% decline, if the Channel's bottom breaks.
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** Please LIKE 👍, SUBSCRIBE ✅, 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 me, keep the content here free and allow the idea to reach as many people as possible. **
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The GBPCAD pair has been on a strong yearly decline, especially as of late. The 1M (monthly) RSI is currently at 20.87, the lowest it has been since January 1985. That is a good enough reason of its own to buy the pair. There are striking resemblances with the early 2000s fractal. A rebound on the Channel Down pattern's bottom can push the price all the way to its top and the 1M MA50 (blue trend-line). Be ready to offset some risk though to complete a -24.85% decline, if the Channel's bottom breaks.
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You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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