GBP/CAD: Buy above trend line resistance
Major resistance – 1.7300 (trend line joining 1.75930 and 1.75230).
GBP/CAD broken minor trend line resistance at 1.6800 on Apr 18th 2017 and jumped sharply till 1.72813 on Apr 19th 2017.
The pair is facing strong medium term descending trend line resistance at 1.7290 and any break above confirms further bullish continuation, a jump till 1.7520 is likely.
On the lower side, near term support is around 1.7170 and any violation below will drag the pair down till 1.7090 (23.6% retracement of 1.65149 and 1.72813)/1.7000.
Short term bullish invalidation only below 1.6500.
It is good to buy above 1.72900 with SL around 1.7230 for the TP of 1.7500/1.7530
GBP/CAD broken minor trend line resistance at 1.6800 on Apr 18th 2017 and jumped sharply till 1.72813 on Apr 19th 2017.
The pair is facing strong medium term descending trend line resistance at 1.7290 and any break above confirms further bullish continuation, a jump till 1.7520 is likely.
On the lower side, near term support is around 1.7170 and any violation below will drag the pair down till 1.7090 (23.6% retracement of 1.65149 and 1.72813)/1.7000.
Short term bullish invalidation only below 1.6500.
It is good to buy above 1.72900 with SL around 1.7230 for the TP of 1.7500/1.7530
