GBP/CAD H4 Time Frame Analysis

The GBP/CAD H4 time frame is shown on the chart below. This pair could reverse back up in the main session tomorrow on this time frame as well as the D1 time frame. Check the forex news calendar for the British Pound (GBP) news drivers tomorrow.

Current resistance and price alert point is 1.7780, shown by the bottom yellow line. Set an audible buy alert here and when the alert hits check The Forex Heatmap® for a buy signal. The target resistance area is 1.8050. The majority of the exotic pairs on the market have been retracing against their major trends, so this up cycle would be expected to be 2-3 days, similar to the recent retracements and up cycles on the GBP/AUD and GBP/NZD. This happens frequently when pairs with one common currency follow each other like dominoes falling, we call this the domino effect. In this case the GBP/CAD should follow the GBP/AUD and GBP/NZD recent moves up. The H4 time frame on the chart below is some simple 5/12 exponential moving averages set up on the meta trader charting platform.

GBP/CAD H4 Time Frame Analysis

GBP/CAD H4 Time Frame Analysis

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