GBP/CAD: Break-Out bullish rising wedge
Great Britain Pound/Canadian Dollar was in the downside, but in that point, I see that GBP it's look with a chance to climb in this week and I see a good position to long.
The price it's into this symetric triangle, but as we look very carefully, we break out this bullish rising wedge and this resistance diagonal was broke up.
This it's the H4 timeframe and we see a bullish divergence in the RSI indicator making lower high and price action lower low. And also, as we break out this gray zone that I mark with 3 blue arrow, this it's a key zone to watch and possible pivot point to look as manipulation incoming.
I put a long position in GBP/CAD now in the $1.5764 GBP and SL to $1.5726 GBP and target to $1.5880 GBP.
I hope that this analysis support you
Good luck!!!
The price it's into this symetric triangle, but as we look very carefully, we break out this bullish rising wedge and this resistance diagonal was broke up.
This it's the H4 timeframe and we see a bullish divergence in the RSI indicator making lower high and price action lower low. And also, as we break out this gray zone that I mark with 3 blue arrow, this it's a key zone to watch and possible pivot point to look as manipulation incoming.
I put a long position in GBP/CAD now in the $1.5764 GBP and SL to $1.5726 GBP and target to $1.5880 GBP.
I hope that this analysis support you
Good luck!!!
