GBPCAD: Potential Reversal Zone & Your Trading Plan 🇬🇧🇨🇦
Hey traders,
GBPCAD is trading in a long-term bearish trend.
After the price set a new low around 1.665 level, the market retraced.
At the moment the pair is approaching 1.708 - 1.714 daily supply cluster.
To catch a bearish move from that pay close attention to an expanding wedge pattern on 1H time frame.
Its support breakout will be your confirmation to sell.
Then the price will drop at least to 1.69
In case of a bullish breakout of the blue zone, the setup will be invalid.
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