Trade of the Day: GBP/CAD

Get the Autochartist Trade of the Day on your Mobile!

Join our Telegram Channel now!

ChartViper Trade of the Day

GBP/CAD falling inside the 15-minute Falling Wedge chart pattern, which was recently identified by Autochartist. Autochartist rates the quality of this Falling Wedge at the 3-bar level – which is the result of the slow Initial Trend (1 bar), significant Uniformity (7 bars) and lower Clarity (4 bars). GBP/CAD is expected to fall further inside this Falling Wedge.

As can be seen from the daily GBP/CAD chart below – the pair earlier reversed down from the resistance zone located between the major resistance level 1.6825 (previous monthly high from December, which has been reversing the price from March) and the upper daily Bollinger Band. The proximity of this resistance zone increases the probability GBP/CAD will continue to fall inside this Falling Wedge.

Want to get full Autochartist Access?

  • Autochartist Market Scanner
  • Autochartist Market Reports
  • Autochartist Mobile App (QR Code)
  • Full Autochartist Web App
  • Volatility Analysis

Subscribe here: ChartViper Subscriptions