Long Trade on GBP/CAD
Price has broken the long-term downtrend plotted on the monthly chart
An MA crossover on Weekly represents the continued up move of the pair
Daily Fib shows that price has retraced to the 38% level before bouncing and progressing upwards again
On the 4 hour chart, price is currently sitting around an area of historical S&R
60 minute chart shows price retesting this zone which suggests support is occurring and a bounce will happen
Anticipating another strong up move to commence with the target being the 0% Fib extension level
Price has broken the long-term downtrend plotted on the monthly chart
An MA crossover on Weekly represents the continued up move of the pair
Daily Fib shows that price has retraced to the 38% level before bouncing and progressing upwards again
On the 4 hour chart, price is currently sitting around an area of historical S&R
60 minute chart shows price retesting this zone which suggests support is occurring and a bounce will happen
Anticipating another strong up move to commence with the target being the 0% Fib extension level