Trading Idea - GBP/CAD, 29-02-2024 | IFCM Tanzania
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Trading Idea - GBP/CAD, 29-02-2024

Trading Idea - GBP/CAD, 29-02-2024

Trading Signal: GBPCAD

OrderSell
DirectionBearish
PatternResistance Test
IntervalDaily
Length (Candles)14

Idea Summary


The medium term GBPCAD price forecast is bearish. The GBPCAD price is testing a resistance above the 200-day moving average MA(200). Most likely the price will reflect off the resistance and decline toward MA(200) while there is a likelihood it may breach above the resistance and continue rising.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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