The Pair Gbpcad hits a support at 1.72831 after three daily candle sticks rapid bearish pressure, the higher low and higher high candle formation indicates an uptrend, this means that the current support may be a pullback to the rising trend. A bullish daily candle stick close from this level may attract further buys to the next resistance at 1.74979. A close below this level may lead price to the next support at 1.71814 before a possible bounce.
I would be watching price action from this zone and would prefer to wait for long opportunities as I have a bullish bias for the next days, A break below 1.71814 would invalidate my bias.
Disclaimer: What I have shared above is not a financial or investment advice, it’s an opinion that could be helpful for educational purposes only, whatever trading decision you make is at your own risk.
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