GBPCAD Short Position
Seasonality Analysis: Historical seasonality trends indicate a bearish pattern for GBPCAD during this period. This suggests that the currency pair tends to decline during this time of the year.
Range Breakout: If the price breaks below a key support level in the current trading range, it confirms a bearish breakout. This indicates that the selling pressure is strong enough to push the price out of its previous range, potentially leading to further declines.
RSI Bearish Divergence: The Relative Strength Index (RSI) shows a bearish divergence, meaning that while the price is making higher highs, the RSI is making lower highs. This is a signal that the upward momentum is weakening and a reversal or correction is likely.
Range Breakout: If the price breaks below a key support level in the current trading range, it confirms a bearish breakout. This indicates that the selling pressure is strong enough to push the price out of its previous range, potentially leading to further declines.
RSI Bearish Divergence: The Relative Strength Index (RSI) shows a bearish divergence, meaning that while the price is making higher highs, the RSI is making lower highs. This is a signal that the upward momentum is weakening and a reversal or correction is likely.
Note
TP1 hit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.