GBP/CAD Sellers are Waiting in the Ambush

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The GBP/CAD is having a retracement. The price is getting close to overbought levels and we could see a drop soon.

As the price progresses towards the 88.6 and the trading zone we could see some momentum on an intraday basis. 1.7605-7625 is the zone where I will be looking to sell, provided that the price slowly grinds towards the POC. Targets are 1.7538 followed by 1.7449 and 1.7405. Only a clear breakout above 1.7655 will make this scenario invalid.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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