GBPCAD POSSIBLE SHORT PROJECTION
Selling Gbpcad with the following confluences
1. Trend: Downtrend ( price making lower lows and lower highs
2. The Level: Break of minor support which is acting as resistance
3. Fib retracement levels: Price got rejected @ 50 and 61.8% levels
4. The signal: Bearish Engulfing candle @ resistance. Which basically means buyers are overwhelmed by sells in the market and are ready to continue pushing price downwards.
1. Trend: Downtrend ( price making lower lows and lower highs
2. The Level: Break of minor support which is acting as resistance
3. Fib retracement levels: Price got rejected @ 50 and 61.8% levels
4. The signal: Bearish Engulfing candle @ resistance. Which basically means buyers are overwhelmed by sells in the market and are ready to continue pushing price downwards.