GBPCAD approaching a top. Sell opportunity.

Feb 17, 2022

GBPCAD has been trading within a Channel Down pattern since the February 24 2021 High. That was the first of a series of Lower Highs. Right now the 1D RSI is approaching its multi-year Resistance level, same way the pair is approaching the top (Lower Highs trend-line) of the Channel Down. The very same RSI pattern has formed the Lower Highs within the Channel Down. We are turning bearish on this pair targeting just above the 1.236 Fibonacci extension at 1.65000.



--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------