FxWirePro: GBP/CAD faces trend line resistance around 1.6675 , good to sell on rallies
Major resistance – 1.66760 (trend line joining 1.67922 and 1.6745). Major support – 1.6480 The pair has recovered from the low of 1.64861 and jumped till 1.66151. It is currently trading around 1.65980. Short term trend …
Major resistance – 1.66760 (trend line joining 1.67922 and 1.6745).
Major support – 1.6480
The pair has recovered from the low of 1.64861 and jumped till 1.66151. It is currently trading around 1.65980.
Short term trend is still bearish as long as resistance 1.66750 holds. Any violation above 1.66750 will take the pair to next level till 1.6740/1.67922. The minor resistance is around 1.6620 level.
On the lower side, any break below 1.6550 (7- day MA) and any break below targets 1.6535/1.64860 (yesterday low).
It is good to sell on rallies around 1.6600 with SL around 1.6675 for the TP of 1.6485/1.6398
