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Home About the company Daily reviews GBP/CAD Trading Analysis (05/08/2024)

GBP/CAD Trading Analysis (05/08/2024)

05.08.2024

Technical reviews

The trend is descending. The ascending wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

GBP/CAD price chart

Trading idea:

  • Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
  • Stop-loss at 1.7773.
  • Price targets at 1.7703 1.7632.         


#gbpcad #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor   

Author: GC
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