GBPCAD sell trade idea

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SELL GBPCAD 1.7396 

SL: 1.7426

TP1: 1.7376

TP2: 1.7356

TP3: 1.7336

*Trading conditions may differ between account types and brokers.

Signal Analysis by LCMS Traders 

Currency Pair:  GBPCAD

Timeframe: H1

Step 1 - Previous News:  GBP: CPI data increase in annual inflation, CAD: BOC held interest rate unchanged while reducing its weekly asset purchases

Step 2 - Trend:  Down, Trend Following

Step 3 - Support/Resistance: Moving Towards Support

Step 4 - Indicators

- Bollinger Bands: within  

- MACD: fast heading to down, slow flat

- Stochastic: H4 heading down

- PSAR:  bearish

Step 5 - Upcoming News:  GBP: -, CAD: -