R.Linda Trading

A Professional View

A Professional View

Of The Market

Of The Market

R.Linda Trading

R.Linda Trading

R.Linda Trading - forecast

GBPCAD → Waiting for the price to start rising

2024-01-10 09:31 FOREX forecast

💡Ideas For GBPCAD 🇬🇧🇨🇦

📈 GBPCAD → Waiting for the price to start rising

➖ ➖ ➖ ➖ ➖

GBPCAD is forming a bearish trend change attempt. The Canadian dollar index is declining, while the GBP index is in consolidation against the background of the uptrend.

The growth of the currency pair may continue after retesting the support at 1.6977 and forming consolidation above this zone.

What confuses us is the false breakdown of the 200-hour moving average, but what is interesting is that there is no strong fall. The market is in a correction phase and apparently the price is set to test the previously broken resistance (support at the moment). After consolidation, the market may move into the realization phase (distribution), where the price is capable of reaching 1.7275 in the medium term.

Support levels: 1.6977, 1.6898

Resistance levels: 1.7050, 1.7132

I expect growth after the end of the correction phase. It is worth paying attention to the above support, because it is from this zone that the price can start the strengthening phase

YOUR INVESTMENTS ARE YOUR RESPONSIBILITY

The information on the RLinda.com website and inside our Telegram group is intended for educational purposes and is not to be construed as investment advice. Trading the financial markets carries a high level of risk and may not be suitable for all investors. Before trading, you should carefully consider your investment objective, experience, and risk appetite. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. RLinda, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

RLinda.com takes no responsibility for loss incurred as a result of the content provided inside of our Telegram groups. By signing up as a member you acknowledge that we are not providing financial advice and that you are making the decision on the trades you place in the markets. We have no knowledge of the level of money you are.

The RLinda.com website uses cookies in order to provide you with the best experience. By visiting our website with your browser set to allow cookies, or by accepting our cookie policy notification you consent to our privacy policy, which details our cookie policy.

COMPANY

SERVICE

Terms of Service