GBPCAD after forming a Distribution Channel between 1.77-1.78, has moved
to a weak demand zone. It is weak because the reaction from Demand is minimal.
This is reflected in the VSA , with very low volume. No Buyers are defending the 1.7575
level.
Real Demand is likely to be positioned at 1.73, which is adjacent to a significant S/R level.
The sellers have been in control, and likely to maintain it for some time.
The bias is Bearish ( cross of price below 200MAV and RSI printing below 50 ), as is the intraday
Order Flow.
to a weak demand zone. It is weak because the reaction from Demand is minimal.
This is reflected in the VSA , with very low volume. No Buyers are defending the 1.7575
level.
Real Demand is likely to be positioned at 1.73, which is adjacent to a significant S/R level.
The sellers have been in control, and likely to maintain it for some time.
The bias is Bearish ( cross of price below 200MAV and RSI printing below 50 ), as is the intraday
Order Flow.
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