GBPCAD ANALYSIS 22-03-2021


GBP/CAD trading in downtrend line
price  below SMA 100 , SMA 200
MACD shows weakness of bullish momentum
RSI broke uptrend line below 50

First scenario : if price break key level around 1.7235 and close below it on 4h frame ,it will confirm bearish  movement to demand zone around 1.7050

Second scenario : if price break downtrend line and close above resistance level 1 around 1.7450 on 4h frame ,it will confirm bullish movement to resistance level 2 around 1.7670

R3: 1.7670
R2: 1.7600
R1: 1.7450
Pivot: 1.7280
S1: 1.7235
S2: 1.7150
S3: 1.7050