GBPCAD Analysis January 2021

Analysis 02-January-2020

CMP: 1.7397; Res: 1.7497; Sup: 1.6943

If you notice GBPCAD from the bigger picture, it is trading in range between 1.5690-1.8425 from 2017.
From March 2020 to till now, it is trading in a range between 1.6540-1.7801.
As per my view, this is in a triangle and expect a break for new lows.

As of now res is at 1.7497 and support is at 1.6943.

Primary Scenario: Bearish

As long as 1.7497, we can expect deep fall towards 1.7, 1.61.
STOP LOSS: 1.7497
TP1: 1.6943
TP2: 1.6158
TP3: 1.5691

Key Levels/targets: 1.6943, 1.6563, 1.6428, 1.6158, 1.5986, 1.5691.

Alternate Scenario: Bullish

If 1.7255/1.7047 supports and a break of 1.7497, we can see more upside towards 1.7616-1.7750, 1.7967-1.8050...

GBPCAD: Will 1.7308 hold resistance? 27-Jan-2020

CMP: 1.7223; Res: 1.7268/1.7306; Sup: 1.6940/1.6918
If 1.7308 hold resistance, we can see 1.7181-1.7166-1.7159, 1.7123-1.7112, 1.7087-1.7080....

GBPCAD: Moving UP? 20-Jan-2020

CMP: 1.6980; Sup: 1.6938/1.6915; Res: 1.7000/1.7108

As long as the supports hold and a break of 1.7000, we will see 1.7013, 1.7057(initial tgt), 1.7085, 1.7130-1.7175 (min tgt), 1.7203, 1.7247-1.7275(ultimate tgt).