GBPCAD BREAK OR BOUNCE?
GBPCAD is at the key resistance 1.7050 where we need to ask the question will the price
breakout or bounce from the level.
Currently, the price is working within a triangle pattern at the resistance which
would typically see price break lower. However, the GBP is currently stronger than CAD
and we would need to see this reverse in order to see a breakout lower. Either way, this
is a great level to watch and wait for the reaction.
breakout or bounce from the level.
Currently, the price is working within a triangle pattern at the resistance which
would typically see price break lower. However, the GBP is currently stronger than CAD
and we would need to see this reverse in order to see a breakout lower. Either way, this
is a great level to watch and wait for the reaction.
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