GBPCAD – Approaching Key Support Zone & Corrective Structure | May 14

Verified Profitable Trader

Chris Capre’s current live price action and ichimoku trades: EURUSD, GBPUSD, AUDJPY, CHFJPY, EU50

New to Forex? Then check out my FREE Learn Forex Trading Course with videos, quizzes and downloadable resources

GBPCAD – In Large Corrective Structure, Near Key Support Zone (4hr chart)

Price Action Context

Still in a large corrective structure since late February this year, the pair has been stuck between 1.73 and the high 1.77 range with several touches on both sides. For now, I’m playing both sides of this structure until we get a daily close on either side.

gbpcad-forex-trade-signals-2ndskiesforex

Trending Analysis

MT structure is neutral with LT bias mildly bullish, while ST GBP pairs have been under pressure.

Key Support & Resistance Zones

R: 1.77-1.78

S: 1.73-1.74

Keep up with the members daily trade ideas for updates.

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article