20 Sept - GBPCAD Analysis


Market Consolidation

Similar to the past Chart analysis on the GBP/USD, Current market movement on this pair is rather consolidated as seen in the BLACK BOX.

What can you expect:
  • Market is still making lower lows and lower highs (Blue Line)
  • This shows that market is still on a bearish side (This is also due to the lack of a bullish trendline form) - it takes a longer time for the bull to reach point of retracement than the bear

This might come of as a contradiction to the previous analysis on the bullish outlook on the GBP as this is a comparison on a different pair. Do bear in mind on the other external factors and I'm not predicting the outcome but defining the probability of the outcome.

Market tendency to break lower is higher than the bull side.
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