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    GBP/CAD

    Thread for GBP/CAD discussion - latest news, technical analysis, forecasts and opinions.

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    11.JPG
    The analysis at the 4H time Frame:


    We can see at the chart that market still going to a sideway ! and market start showing the retracemennt at the botto, of the fibo levels right ! and also market start consolidate at the botto, level and if lower fibo level becomes support then we can go for buy but if breeak down this level we can see a huge down rally one more time.

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    here is showing the strength of just only the bearish and more likely is that today it would be continue once the level is 1.5432 would break down, after we see some more bearish trend in the market

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    Pound is still very strong against the Canadian dollar , market didn't stall at any fib point just breaching every one , more likely possible to see the 0 level then extension zone will be started , more good here buy positions, bias is bullish for the day

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    market gap higher at the chart and trying to go near R1, 1.6019, but market neglect it and almost ready to go further below 1.5946, and if prices ready to go below that then S1 is expected

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    market is testing the pivot daily 1.5984 and trying to go below of this and nearest support exits 1.5975 so if market remain below the daily pivot area then we may can expect the level of the s1 which 1.5952

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    1.5875 is key level as we can see that market tested this level several time but couldn't succeed in going below of this , if market just give it test then bullish candle can be seen , but more likely trend getting bearish , breaking of this level is expected

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    1.6099 breaking would call the buy zone , we can see that market since last many candles not showing , more likely bulls is tired or market looking for refreshment , if bulls coming to end , then 1.6077 breaching will open the ways for the seller

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    Market is making the lot of spinning tops at the chart , because market is getting tire with every candle and getting smaller and smaller , because we can see that break of the upper boundary is critical and as well as the breaking of downward trendline boundary would call selling highly

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    We can see that our channel is heading upward , but it seem like less likely market is interested
    to break the trend line or either resistances at the level 1.6267 , of market able to break the trend line here , then after we can expected is that more selling happens

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