GBPCAD growth from strong support

8 янв. 2021 г.

The price adheres to a conditional falling trend.
In the spring of 2019, she began to fall.
In August of the same year, it touched the support line 1.589 and rose.
However, in mid-December it reached the resistance line 1.779.
This line became the guide of the downtrend, since over the past year it has repeatedly stopped the price growth.
However, since September 2020, the price has been trending upward.
It is driven by strong line support (2019).
Now the price is close to the 1.718 support zone.
Intersections of this line and the line of support formed in March 2020.
I expect the price to bounce off the line and rise to resistance.
The target is 1.740.

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