Trade setup for the GBP/CAD pair.
The strategy is based on rsi bullish divergence.
Price is on a downtrend and making lower lows; while rsi appears to be following an uptrend and is making higher lows.
Entry should be done once breakout takes place and a retest on the line is done.
TP's were drawn under different resistance levels.
SL was drawn under previous resistance which should become support once breakout takes place.
All analysis was conducted on the 1H.
The strategy is based on rsi bullish divergence.
Price is on a downtrend and making lower lows; while rsi appears to be following an uptrend and is making higher lows.
Entry should be done once breakout takes place and a retest on the line is done.
TP's were drawn under different resistance levels.
SL was drawn under previous resistance which should become support once breakout takes place.
All analysis was conducted on the 1H.