The Pound Canadian Dollar.

Good afternoon Dynamic Traders,

Todays chart of the GBPCAD is definately one for the watchlist until the market shows its hand a little more.

The current trend is down with price at present in a fibonacci breather zone which also encloses former resistance lying just above the figure of 1.8400.
This also ties in with the AdvancedGet Elliott wave count.

However contradicting this is the sub chart indicator of MACD which is showing an uptrend direction, and with another style of trading I use I only have one more confluence to get which would then have me look at a possible long trade.

Therefore as usual, sit on your hands on this one until more direction is given and once your number of confluences is had, use your Dynamic Trader rules and filters for entry.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.