Short

GBPCAD H4 SHORT PRICE ACTION FORECAST

The pair has been trading within a channel from a broader look (W1). Price has tested the resistance level from the structure. Now, it should move downward to complete the next leg towards the channel's support line.

At H4, the price could not form a new fresh high, signaling the bearish pressure. After the current strong bearish candle, a pullback towards the recently broken support zone from the previous consolidation should be tested to trigger a short entry.

The order:
Type: sell-limit
S/L: 77 pips - R:R | 1:2.3 -
T/P: Fib level 0.5 as reversal point.

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