GBPCAD Analysis (7th DEC 2022, Wednesday)
Updated
Price has reach weekly FIB 79%.
Price rises during London Open.
Could seek for short if it creates lower high after New York Open.
Price rises during London Open.
Could seek for short if it creates lower high after New York Open.
Note
If you have an open short position with you, you might want to close all / partial close your order as it is invalid. Supposedly yesterday CAD rate statement should make the price to fall. But it retrace downwards and has not create a structure break forming lower low.
Which means that CAD is creating a counter trend move, taking out retail trader stop losses.
Order cancelled
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