The GBP/CAD is bearish. We can see that the price has formed a nice straddle pattern (respecting and walking the MAs).
GBP/CAD Technical Analysis
GBP/CAD Continues down
The Implosion entry
1.6692 is the first target
H4 Chart GBPCAD
Swing high
Swing low
Top of retracement
Inside bar implosion
Final target
The GBP/CAD is bearish. We can see that the price has formed a nice straddle pattern (respecting and walking the MAs). I expect a downtrend continuation and we can already see the profits from the entry. It is my proprietary Implosion entry which happens at the break of an inside bar after the price has qualified for entry (by my MEGATREND method).
The first target is 1.6692, followed by 1.6598 the final target.
For a look at all of today’s economic events, check out our economic calendar.
