GBP/CAD Retracement in Progress

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/CAD had formed a potential retracement above W L3 support, which is in confluence with M L5 camarilla support. The price should go up.

At this point we can also see a small inverted head and shoulders pattern which indicates bullish pressure. For a continuation to the upside, the pair needs to close above W H3 camarilla pivot – 1.7075. A close above that level will give additional bullish impulse to the price and we should see 1.7117 and eventually 1.7186.

The analysis has been done with the CAMMACD system.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of