DislikedIf you are tracking GBPCAD this week, you may find the following top-down technical analysis helpful. On the daily time frame, since June 2017, price action has been operating within a descending channel (bound in navy coloured lines). Last week Wednesday, it rejected the distal channel line with a strong bearish engulfing candlestick. This was followed up on Friday with another bearish move. Overall price wave formation indicates a third wave heading southward and we may expect this move to target the 1.57390 area. The descending channel seen on...Ignored
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money