GBPCAD almost ready to go short

A few days back I did a long term and short term analysis for the GBPCAD, it was trading near a LT resistance level, and when looking at the short term chart, you clearly saw the range it was trading on.
Guess what?

The GBPCAD already broke the bottom of the range:

What can I do with this breakout?

Well, it is now trading in a bearish condition, that means that it is likely to continue its way down until it reaches the next LT support level, which is at 1.5427 (more than 650 pips away from where it is currently trading).

We need to be careful though, tomorrow we have 3 interest rates announcements and NFP report coming this Friday.

Trade Safe!

Raul Lopez
Forex Course

forex, GBPCAD Analysis

Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .