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GBP/CAD Technical Analysis 2016, 18.09 - 25.09: breakdown to bearish reversal

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by , 09-19-2016 at 12:44 AM (1090 Views)
      
   
Daily price is on breakdown within the primary bullish market condition: the price broke symmetric triangle pattern to below for the possible bearish reversal, and Chinkou Span line crossed the price for the breakdown to be continuing.

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If D1 price breaks 1.7128 support level on close bar so the reversal of the price movement from the ranging bullish to the primary bearish market condition will be started.
If D1 price breaks 1.7543 resistance level on close bar from below to above so the bullish trend will be resumed.
If not so the price will be on ranging within the levels.

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