GBPCAD - A fakeout or a hint of a trend reversal - we shall see
As the Stochastics enter the oversold area I expect the Pound to pull back to at least previous support at 1.7945. This area/level will be my entry if I see that this previous support will hold as resistance and we might see the pair break the 1.7850 area and break the uptrend. If so one can get a whole lot of pips in a middle term southbound trade
Be aware of fakeouts and the possibillity that this pair will continue to range between 1.7850 and 1.82
Be aware of fakeouts and the possibillity that this pair will continue to range between 1.7850 and 1.82
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.