GBPCAD channel

Dear Dynamic Traders,

Good day to you! Congratulations to those traders that have taken profits from the GBPCHF trade, it moved over 700 pips today.

Welcome to another fellow blogger - Richard.

Today's analysis is based on the GBPCAD pair. The daily shows range bound activity with price changing direction at trendline support or resistance with other confluence of events. It has now hit the trendline and is looking to go down in the direction of the longer term trend. Remember "the trend is your friend".














The 4 hour chart evidences a triangle formation and price has broken out. I would enter with caution given the value index is in close proximity and could act as support.

Good trading!

Bijal Shah