GBPCAD OVERALL SHORT (SELL)

16 Mar 2020

GBPCAD overall view on the monthly time frame looks like it is gearing up for a major down swing. This could come from the OIL correction following the major fall we received from last weeks market open if we look at it from a fundamental stand point. From a technical perspective, we just received a successful retest of resistance at the channel break of previous support. Further confirmations and entry zones will be confirmed on the lower time frames. If you are going to take the sell, look for pattern confirmations on the 1h, 4h and Daily time frames.