It appears that price might attempt to go lower as bulls did not do enough to stop the price from breaching the support.
1.88 is the ideal target for bears, while getting back above 1.93 is the first target for bulls.
Chart: GBP/CAD D1
Wednesday, February 24, 2016
GBP/CAD Significantly Lower
In today's early trading hours, the pair reached its lowest point since June 2015. GBP/CAD is trading at 1.9200, making a low of 1.9194. This level appears to be the major support for the pair as it has just broken the lower trendline on the daily chart.
It appears that price might attempt to go lower as bulls did not do enough to stop the price from breaching the support.
1.88 is the ideal target for bears, while getting back above 1.93 is the first target for bulls.
Chart: GBP/CAD D1
It appears that price might attempt to go lower as bulls did not do enough to stop the price from breaching the support.
1.88 is the ideal target for bears, while getting back above 1.93 is the first target for bulls.
Chart: GBP/CAD D1
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Very useful information! Thanks.
ReplyDeleteLooks like it will keep pushing lower.
ReplyDeleteThe move to the downside continues.
ReplyDeleteExcellent anlaysis!
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteDownside movement continues.
ReplyDeleteVery useful information, Thanks for sharing.
ReplyDelete