GBP/CAD analysis
Daily:
Ranging since April
Current impulse is bullish
Price re-tested 1.75 but couldn't failed
Large Daily engulfing candle (but previous candle was large bodied i.e. not a doji or hammer...
4H:
Bullish biased and respecting rising trendline
1H
Minor structure at 1.731 but may be weak.
Plan:
Watch price reaction to 1.731 - clear rejection may initiate a long to 1.75.
However a clear break and 4H close below the trendline could trigger a strong bearish reaction
Care point - USA/UK covid news & Brexit news
Ranging since April
Current impulse is bullish
Price re-tested 1.75 but couldn't failed
Large Daily engulfing candle (but previous candle was large bodied i.e. not a doji or hammer...
4H:
Bullish biased and respecting rising trendline
1H
Minor structure at 1.731 but may be weak.
Plan:
Watch price reaction to 1.731 - clear rejection may initiate a long to 1.75.
However a clear break and 4H close below the trendline could trigger a strong bearish reaction
Care point - USA/UK covid news & Brexit news
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