Hi Guys
We can see GBPCAD is at the top of a rising wedge.
Additionally it is at a strong resistance area around 1.749
The RSI is showing overbought, looking for a pullback.
The previous candle's long wick rejection at this resistance also suggests it is time for a correction.
I think there is room for more profit but the first target is next support around 1.7413.
Please let me know what you think
We can see GBPCAD is at the top of a rising wedge.
Additionally it is at a strong resistance area around 1.749
The RSI is showing overbought, looking for a pullback.
The previous candle's long wick rejection at this resistance also suggests it is time for a correction.
I think there is room for more profit but the first target is next support around 1.7413.
Please let me know what you think