Greetings Forexia family, lets see whats going on with GBPCAD. I can see that the pair has formed the downtrend and respected the support where most of the retail traders might be trapped.
Besides, they have broken the trendline and consolidating above the the support which was acting as resistance. I believe we are in the processing of trapping more buyers to make the push downside to take the early buyers.
Thus, i believe the pair has more potentials to go down.
PLEASE USE THIS ANALYSIS AS A GUIDE TOOL FOR YOUR TRADING AND USE PROPER MONEY MANAGEMENT IN YOUR TRADING
1st trade got stopped out at break even. 2nd Gave 1:4 with 120 pips!