GBP/CAD Sellers Are Waiting In The Ambush

The GBP/CAD is having a retracement. The price is getting close to overbought levels and we could see a drop soon.

As the price progresses towards 88.6 and the trading zone we could see some momentum on an intraday basis. 1.7605-7625 is the zone where I will be looking to sell, provided that the price slowly grinds towards the POC. Targets are 1.7538 followed by 1.7449 and 1.7405. Only a clear breakout above 1.7655 will make this scenario invalid.

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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

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