GBPCAD Sell
Aggiornato
There's a growing sense of caution around GBPCAD. While recent technical indicators have suggested a strong buy, a closer look reveals potential exhaustion from buyers, particularly at key levels across multiple timeframes.
Key Levels and Exhaustion:
Weekly, Daily, 4-Hour Charts:
GBP/CAD is currently testing resistance on its weekly, daily, and even 4-hour charts. This confluence of resistance points suggests the pair might be struggling to push higher.
Buyer Exhaustion:
The recent rally might be losing momentum. We could be seeing signs of buyer exhaustion, where the bulls are running out of steam after a significant upward push.
I have entered a sell position and look to hold it overnight into tomorrow, to see how CAD and USD news affect the seniment.
Entry: 1.75929
Stop: 1.76275
Profit: 1.74503
1:4 RR - Risking 1% in the hope of hitting 4% returns.
Key Levels and Exhaustion:
Weekly, Daily, 4-Hour Charts:
GBP/CAD is currently testing resistance on its weekly, daily, and even 4-hour charts. This confluence of resistance points suggests the pair might be struggling to push higher.
Buyer Exhaustion:
The recent rally might be losing momentum. We could be seeing signs of buyer exhaustion, where the bulls are running out of steam after a significant upward push.
I have entered a sell position and look to hold it overnight into tomorrow, to see how CAD and USD news affect the seniment.
Entry: 1.75929
Stop: 1.76275
Profit: 1.74503
1:4 RR - Risking 1% in the hope of hitting 4% returns.
Trade attivo
Trade chiuso: stop raggiunto
Declinazione di responsabilità
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