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  • Forex Trading Forecast for GBPCAD | 600 Pip Target? 😲

Forex Trading Forecast for GBPCAD | 600 Pip Target? 😲

By on November 16, 2020 0 16 Views
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Remember this GBPCAD inverse head & shoulders? In today’s Forex trading video, we’re going to discuss GBPCAD key levels and just how high the pair could go…

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From a technical standpoint, GBPCAD has been perfect, at least so far.

I pointed out this inverse head and shoulders back on September 9.

I also discussed the pair on September 12, less than 24 hours before we got the massive 330 pip rally on the 13th.

The pair even sold off recently from 1.6600, which is an area we’ve been talking about for weeks.

As you can see, this was one of those cases where the market took two weeks to retest the head and shoulders neckline as new support.

And if you watched Saturday’s forecast video, this week’s bounce from the 1.6250 support area shouldn’t be surprising.

That’s the location of former neckline resistance (new support).

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