GBPCAD: Important Key Level Ahead 🇬🇧🇨🇦
Here on GBPCAD we have a perfect example of the importance of higher time frame analysis:
The pair broke and closed below a key daily structure support this week.
Even though, it is a strong bearish clue, I spotted a key monthly support lying slightly below the broken area.
Watching how the price reacted to that level in the past, I would suggest patiently waiting for now.
If the price breaks the underlined green level and closes below that on a monthly, then a further decline will be expected.
And while the price remains above that, I will expect a pullback!
Be very careful!
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