Technicals

Add as a preferred source on Google

FxWirePro: GBP/CAD faces strong resistance around 2.1100, good to sell on rallies

Major Support -2.0935 Major resistance- 2.1100 The pair has retreated after making a high of 2.1100. It is currently trading around 2.09590. The pair's major support is around 2.0935 and break below targets 2.0890/2.0845…

1 min read
FxWirePro: GBP/CAD faces strong resistance around 2.1100, good to sell on rallies
Image from the original EconoTimes article

Read the original article

  • Major Support -2.0935
     
  • Major resistance- 2.1100
     
  • The pair has retreated after making a high of 2.1100. It is currently trading around 2.09590.
     
  • The pair's major support is around 2.0935 and break below targets 2.0890/2.0845 in short term.
     
  • Short term trend is weak as long as resistance 2.1100 holds.
     
  • On the higher side minor resistance is around 2.1000 and any break above targets 2.1100/2.1250.
     
  • Overall bearish invalidation only above 2.1250.

It is good to sell on rallies around 2.1025-2.1030 with SL around 2.1100 for the TP of  2.0890/2.0850

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560