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20 Jan 2021

GBP/CAD Price Analysis: Bulls in charge with 0.7480 in their sights

  • GBP/CAD is in the hands of the bulls, taking on the next layer of resistance.
  • On a break of resistance, 0.7480 is earmarked as a daily extension's target. 

Further to the prior analysis, GBP/CAD Price Analysis: Choppy consolidation with bullish bias, the market has moved in accordance with the daily support and upside continuation expectations.

Prior daily chart analysis

Prior 4-hour analysis

Live market

As illustrated, the price action has moved according to the prior analysis and projection. 

Price action expectations

The bulls are firmly in control through the first layer of resistance, closing above it on a 4-hour basis.

The old resistance would be presumed to act as support and bulls taking part in the move may consider moving their stop loss to breakeven. 

Meanwhile, there is overhead resistance for where the market is testing.

A break of which opens the path to a 0.7480 target.

Jan 20, 2021

USD/JPY slips back from brief test of 104.00, consolidates within pennant

USD/JPY slipped back from a brief trip above the 104.00 level to trade in the 103.80s on Tuesday, but still closed the session with gains of 0.2% or 2
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Jan 20, 2021

WTI Price Analysis: Keeps recovery moves from short-term EMAs to battle $53.00

WTI rises to $53.12 during the initial Asian session trading on Wednesday. In doing so, the energy benchmark extends Tuesday’s recovery moves from 10-
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