GBPCAD Will Move Lower! Sell!

Aug 30

Take a look at our analysis for GBPCAD.

Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 1.772.

The above observations make me that the market will inevitably achieve 1.759 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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Aug 31

Note

Great beginning for a trade, let’s hope it goes further!