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Short-term Trading Idea FX GBP/CAD – Bear Speculation: Expected Fall to 2.0340

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Trading opportunities for currency pair: with a bounce from the 2.0949 maximum, a double bottom is starting to form on the daily. Any further revival of oil prices will see the GBP/CAD drop to 2.0340. Background The last GBP/CAD idea I made came out on 16th November. When the review was published, the pair was trading 2.0297. Due to falling oil prices, following a bounce to 2.0200, I was expecting to see a break through 2.0335 with a 2.0500 target. The idea didn’t come off since Brent stopped

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