GBP/CAD Bearish Move Could Restart

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/CAD is having a retracement. A temporary low close to D L5 camarilla has been formed.

If the market retraces, we should see a move towards 1-2-3 entry at the POC zone which is 1.7282-1.7295. The POC zone should give us a rejection towards lower levels on camarilla. Targets are 0.7230 and 0.7175. However, first we should see a move up then a drop. The market is retracing now as a part of profit taking and this market is generally bearish.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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