GBPCAD sell trade idea 14/05/2021

#OPINIONLEADER# #Signal#

SELL GBPCAD 1.7088

SL: 1.7118

TP1: 1.7068

TP2: 1.7048

TP3: 1.7028

Signal Analysis by LCMS Traders 

Currency Pair: GBPCAD

SELL GBPCAD 1.7088 

Timeframe: H1

Step 1 - Previous News: GBP: BOE Gov Bailey said central bank’s forecasts were to hold, higher inflation is unlikely going to persist, CAD: BOC Gov Macklem highlighted that inflation is Canada is expected to hit the 3%

Step 2 - Trend: Across, Counter Trend

Step 3 - Support/Resistance: Bouncing Off Resistance

Step 4 - Indicators

- Bollinger Bands: within 

- MACD: fast down, slow touch

- Stochastic: H4 turning down from over bought

- PSAR: bearish

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