Slowing Canadian economy bullish for GBPCAD
Canada’s economy shrank by 0.1% over month in October, the first monthly decline since February. Will the GBPCAD continue rising?
The price chart on 1-hour timeframe shows GBPCAD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. The RSI oscillator is below 50 level but has not reached the oversold zone.
Technical Analysis Summary
Canada’s economy shrank by 0.1% over month in October, the first monthly decline since February. Will the GBPCAD continue rising?
The price chart on 1-hour timeframe shows GBPCAD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. The RSI oscillator is below 50 level but has not reached the oversold zone.
Technical Analysis Summary
Order | Buy |
Buy stop | Above 1.7055 |
Stop loss | Below 1.6998 |