GBP/CAD Last Line of Defense for Bulls

By:

Updated: Dec 18, 2019, 09:10 GMT+00:00

Dear Traders, The GBP/CAD has retraced enough to call it neutral again. We will see either a bounce or a drop below the POC zone.

1.7230-80 is the POC zone. 4h close above the zone suggests a bullish bounce towards 1.7390 and eventually 1.7455. A close below the zone will be bearish and the price should go to 1.7225, 1.7191 amd 1.7136. The final target is 1.7047. These targets are intra-week targets and we might see some of them hit today.

The analysis has been done with the CAMMACD.MTF template.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Loading

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Loading

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

Latest news and analysis

Loading