Technical Analysis By Real Forex MM

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GBPCAD!! Another Short Opportunity

GBPCAD is currently trading at 1.74650 at UK session. We have noticed that GBPCAD is trading within a descending channel tradeline at H4 time-frame. Today the pair has retest the resistance zone at 1.75000 and found some selling pressure.

Support is seen at 1.73300 and 1.72000 respectively. On the other hand, if GBPCAD can breaks the resistance and a daily close above the resistance level 1.75000 will fade the bearishness on GBPCAD.

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This trading analysis is only for getting an idea about the current market situation. This is not a signal. These can be used for education purposes only.

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