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GBP/CAD to challenge previous lows

AdamFx42 Posted 13 Oct. as Analysis on GBP/CAD, Target: 1.7644, Date: 1st of December, 12:00 GMT  in #Technical analysis #GBP/CAD #Fibonacci Expansion Levels #Previous Lows
Gbp/Cad looks ready to challenge (and break) previous lows
On the weekly chart the price action looks bearish, and a high looks to be in place
The 61.8% fibonacci expansion level of the latest weekly move lies around 1.76
where the previous weekly lows are too - this could be another attempt to break these lows
Gbp/Cad Weekly Chart
On the daily chart we see more interesting technicals:
the declining trendline is around the same level as the latest daily fibonacci 61.8% expansion level
which both…
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3 Comments
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AdamFx42 30 Oct.

need price to break below weekly 23.6% fibonacci retracement before a further move down

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AdamFx42 15 Nov.

Finally in a strong move down the price has reached my target area
Weekly 61.8% fibonacci expansion level is holding the price above it for now,
it will probably be retested and if price remains around here I am good

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AdamFx42 26 Nov.

Price remains below 1.77 for now - see what happens this week,
a break above that level will probably move the price away from my target again,
while if it continues to hold - 1.77 will form resistance and price will drift lower towards my target area

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Bearish weekly Flag pattern for GBP/CAD

AdamFx42 Posted 18 Aug. as Analysis on GBP/CAD, Target: 1.8001, Date: 1st of October, 12:00 GMT  in #Technical analysis #GBP/CAD #Breakout #Bearish Pattern #Weekly Downtrend
A clear bearish Flag pattern can be seen on the weekly chart of Gbp/Cad,
this pattern forms a downward channel,
and most of the times the breakout will be to the downside:
Gbp/Cad daily chart
On the daily chart I do not see any pattern,
but price action seems to be going to the downside at this moment,
and the lower border of the flag pattern seems in reach:
Gbp/Cad daily chart
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4 Comments
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AdamFx42 27 Aug.

well,breakout came much sooner than I expected - looking for a retest of trendline from below around 1.8 now

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AdamFx42 10 Sep.

Still 300 pips left in the climb back up again now  :-) to lower border retest

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AdamFx42 11 Sep.

now 150 pips

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AdamFx42 23 Sep.

there we go -- only 30 pips from target now  :-)

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