In this pair, we have the technical figure Triangle. The Triangle has broken through the resistance line on 07/07/2021. GBPCAD forming a bullish formation on a daily chart. If the price holds above this level we will have possible bullish price movement with a forecast for the next 22 days with a target of 1.7367. If we decide to enter this position our stop loss order should be placed at 1.7367.
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Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.