GBPCAD: Weekly Analysis & Bearish Outlook For This Week
07 Jun 2023
GBPCAD: WEEKLY SCENARIO
GBPCAD Technical Analysis: Weekly Chart
In the weekly charts, GBPCAD is trading in an up channel. GBPCAD is currently trading above all SMA except MA(5).
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 1.60000 and the resistance level is at 170000
GBPCAD will trade in an up channel until there is a trend reversal.
GBPCAD Technical Analysis: Daily Chart
In the daily charts, GBPCAD is trading in a down channel. GBPCAD is currently trading below all SMA except MA (5).
RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 1.65000 the resistance level is at 1.69000
GBPCAD will trade in a down channel until there is a trend reversal.
How to Trade GBPCAD this Week:
GBPCAD will follow the downtrend until its trend reversal. So, remain bearish on GBPCAD