GBPCAD: Flag Violation & Bearish Forecast

Short

Livre sterling / Dollar canadien (FX:GBPCAD)

FX:GBPCAD Livre sterling / Dollar canadien

trendanalysis fibonacci flagpattern signals signalservice forex pound canadiandollar gbp cad gbpcad technicalanalysis

GBPCAD is trading in a bearish trend.

the price started to recover as it reached 1.676 support and it was steadily growing within a bearish flag formation.
today the flag was broken to the downside and the market has perfectly closed below its support on 1h.

retesting the broken flag, chances are high that the price will start falling.

initial target: 1.68

good luck!

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