GBPCAD Overview: Bearish Swan And Trendline Breakout
- GBP gained weight due to Brexit optimism that appeared by the UK General Elections Polls.
- CAD GDP came better than expected.
- Falling Oil prices added weight on CAD.
- The trend is Bullish.
- 1.71250 is the key intraday support confirmed by EMA 50 H4.
- The downside is capped by SMA200 H4 at 1.69860
- Bearish Swan Pattern worked as predicted and the price achieved the second target.
- A potential bearish breakout of the trendline would send the price 1.70950 1.70560 and 1.70300.
- If the price fails to break below 1.70250, the targets of the pair will be 1.72110, 1.72770 and 1.73300.
- Bearish three drives pattern at 1.73300 can be used as a selling opportunity.
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