GBPCAD: The price BROKE a strong PATTERN!
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🟢Forex Pair:
GBP/CAD
⚪Technical Analysis:
Since December 2020, the price has been moving bouncing up and down between the resistance zone at about 1.75000 and the support zone at about 1.72300, creating an interesting symmetrical triangle pattern.
On the 22nd of January 2021, the price broke through its dynamic resistance line and it has currently reached the main resistance zone.
🔴Conclusion:
Overall, in the daily and weekly perspective, the price is following an uptrend and I'm confident to see it growing more after an upcoming trend correction.
I'll be waiting for the price reaching and re-testing its previous pattern's dynamic level before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
GBP/CAD
⚪Technical Analysis:
Since December 2020, the price has been moving bouncing up and down between the resistance zone at about 1.75000 and the support zone at about 1.72300, creating an interesting symmetrical triangle pattern.
On the 22nd of January 2021, the price broke through its dynamic resistance line and it has currently reached the main resistance zone.
🔴Conclusion:
Overall, in the daily and weekly perspective, the price is following an uptrend and I'm confident to see it growing more after an upcoming trend correction.
I'll be waiting for the price reaching and re-testing its previous pattern's dynamic level before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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