BabyPips.com FX-Men Team
BabyPips.com
GBP/CAD: 4-hour
Here’s a range setup that you can trade wit your eyes closed! GBP/CAD is once again finding resistance at the 2.0275 area, a level that the bulls haven’t broken since mid-October. Not only that, but I’m also seeing a potential bearish divergence on the 4-hour time frame. A stop just above the range could give you at least 200 pips if you aim for the range support. If you don’t think the range would hold though, then you could also wait for an upside breakout (and maybe a break-and-retest scenario) before putting on any long trades. Just make sure you manage your risk, aight?
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