GBP/CAD Trade Idea

• Major resistance - 1.9640 (3 day EMA)
  
  
• GBP/CAD has broken major support 1.9720 and declined till 1.95031. It is currently trading  around 1.9536.
  
  
• Short term trend is bearish as long as resistance 1.9640 holds.
  
  
• Any break above 1.9640 will take the pair to next level 1.9725/1.9800.
  
  
• On the lower side major support is around 1.9480 and break below targets 1.9400/1.93150 in short term.
  
  
• Overall bearish invalidation can happens if it closes above 2.000 level.

It is good to sell on rallies around 1.9575-80 with SL around 1.9640 for the TP of 1.9400/1.9330    

R1-1.9640

 R2-1.9725

R3-1.9800

Support

S1-1.9480

S2- 1.9400

S3-1.9315