GBPCAD - Downside levels to look out for

PAIR IN FOCUS: GBPCAD
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

Price has broken down from a rising wedge pattern/ trend line. At the end of the week, CAD gained strengthened and restrained the retracement. It is possible that the bearish momentum can continue in the coming week.

The TP levels indicated are the downside price levels to look out for; expect a retrace at some point so make sure you manage your risk. If a retracement happens, then the downside levels may only be reached in the medium-term.

Feel free to discuss and comment, Cheers!

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