GBPCAD SHORT
GBPCAD SHORT
ENTRY 1.78718
STOP LOSS 1.7915
TARGETS 1.7822 , 1.77925 AND 1.7753
The market trend is bearish, with lower lows and lower highs on the daily chart, and the market is now approaching resistance.
On the 1-hour chart, a double top has formed, and its breakout occurred at the start of the London session, which is a strong signal to sell. For extra confirmation, a rising wedge pattern has also formed, with its neckline aligning with the double top's neckline. Both have broken out, so we will take the trade on the retest.
ENTRY 1.78718
STOP LOSS 1.7915
TARGETS 1.7822 , 1.77925 AND 1.7753
The market trend is bearish, with lower lows and lower highs on the daily chart, and the market is now approaching resistance.
On the 1-hour chart, a double top has formed, and its breakout occurred at the start of the London session, which is a strong signal to sell. For extra confirmation, a rising wedge pattern has also formed, with its neckline aligning with the double top's neckline. Both have broken out, so we will take the trade on the retest.
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