💱 GBPCAD - Support is broken. Waiting for the fall
GBPCAD is breaking trend support and testing the level of 1.6606. Consolidation under the level will form a sell entry point
TA on the high timeframe:
1) Global trend is bearish
2) The correction is ending. The signal is a support breakout
TA on low timeframe:
1) Price breaks trend support after failing to make a new high
2) Market sentiment is to sell (indicator on the left)
3) Consolidation below 1.6606 will give an entry point
Key resistance: 1.6606, 1.669
Key support: 1.6517
TA on the high timeframe:
1) Global trend is bearish
2) The correction is ending. The signal is a support breakout
TA on low timeframe:
1) Price breaks trend support after failing to make a new high
2) Market sentiment is to sell (indicator on the left)
3) Consolidation below 1.6606 will give an entry point
Key resistance: 1.6606, 1.669
Key support: 1.6517
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