GBP/CAD Bearish Scenario by ThinkingAntsOK
DAILY CHART EXPLANATION:
🔸 This pair is on an uptrend.
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🔸 However, it could not consolidate above the Resistance Zone, and was rejected strongly.
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🔸 Now, it is breaking the Ascending Trendline to the downside, so, we consider it can start a downside move in the short term.
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🔸 In case the direction is clear, we will look for a lower timeframe setup.
4H CHART ANALYSIS:
🔸 This pair is on an uptrend.
.
🔸 However, it could not consolidate above the Resistance Zone, and was rejected strongly.
.
🔸 Now, it is breaking the Ascending Trendline to the downside, so, we consider it can start a downside move in the short term.
.
🔸 In case the direction is clear, we will look for a lower timeframe setup.
4H CHART ANALYSIS:
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