GBP/CAD: Possible drop off the W H3
|Then GBPCAD has formed a possible rejection pattern off the Camarilla W H3 pivot. We could see a drop.
Overbought conditions along with the change in momentum have made the pair look more bearish. 1.6900 zone could reject the price down to W L3 pivot. W L3 is 1.6820. Only a close above 1.6940 could make the price go higher towards 1.6921 where the trend line is. At this point sellers are slowly regaining control but it's the NFP Monday so be careful.
The analysis has been done with the CAMMACD.Core System.
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