GBPCAD Looking Bearish
Analyzing the H4 chart, we've observed the price recently responding to our sell entry at 1.7046, denoting a noteworthy interaction at this overlap resistance point.
Our target for profit-taking is set at 1.6965, aligning with a corresponding overlap support level.
To manage potential risks, we've established a stop-loss order at 1.7136, strategically placed at a level representing a swing high resistance point. This stop-loss position acts as a safeguard against unfavorable market movements beyond our risk tolerance.
Our target for profit-taking is set at 1.6965, aligning with a corresponding overlap support level.
To manage potential risks, we've established a stop-loss order at 1.7136, strategically placed at a level representing a swing high resistance point. This stop-loss position acts as a safeguard against unfavorable market movements beyond our risk tolerance.
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