GBPCAD / H1 / Daily Forex Technical Analysis / 6.21.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is June 21st, 2019 and we will be taking a look at the British Pound against the Canadian Dollar. Looking at the 1 hour time frame we are looking for price action to reach its previous area of resistance near the 1.678 region and stall out. If price action reaches this area and does lose momentum we will be preparing to enter short. Entry for a Short position near the 1.67914 area, with a Stop Loss near the 1.68318 zone, and a profit target zone of 1.66861 could possibly ensure a profitable trade with a 2.61 to 1 R/R.
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.