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British Pound / Canadian Dollar
Long

GBPCAD: Classic Retest Setup

By VasilyTrader
snapshot

GBPCAD has recently broken and closed above a key daily level.

now the price retests that level.

on 1H we see a falling wedge pattern.
bullish breakout of that (1h candle close above) will give us the perfect opportunity to catch a bullish movement.

initial target:
1.7245

safest stop is below the last low within the wedge.


if the market breaks the support of the wedge, setup will be invalid
CADcanadiandollarCurrenciesFibonacciGBPGBPCADmoneypoundTechnical AnalysistradingTrend AnalysisWedge
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