GBPCAD analysis 11.02.2020

The 1.7110 support level held back sellers. The overall trend is upward. The inclined channel of the descending pattern has been broken (A H1), and a presumed correction has been formed (B H1). The formation of an uptrend (AC + bC + cC (red)) will result the expected wave (with H1) within the overall uptrend. Also, a bullish divergence is formed on Awesome Oscillator indicator.

Trading recommendatoins:

Buy while an ascending structure is forming (on the breakout of the top (aC)).

Stop loss under the support level 1.7110.

Target levels: 1.7247; 1.7350; 1.7477.