GBPCAD is trading in a short term range

Even though the GBPCAD is trading in a short term range, I wouldn’t try going long at the bottom of the range, because it is trading in a bearish condition, it is likely to continue its way down. Instead I’d look for short opportunities, and of course, I’d target the next LT support level around 1.5427 (it is currently trading at 1.6049):

We still got more than 500 pips before we hit the next level, so we have time to look for our short entry.

Do you see the same here?

Trade Safe!

Raul Lopez
Forex Training

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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 .