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GBPCAD 6 Jul 2023

GBPCAD 6 Jul 2023 on H1 timeframe. After moving sideways for quite a long time, the pair was finally able to experience significant bullish yesterday. Touching 1.68890 then back ranging until left at 1.68859. Although it looks like it is in a bullish trend, but if we refer to the stochastic indicator, it can be seen that this pair has reached the saturation point due to overbought. If a trend reversal occurs due to this, then go-short could be an option for scalpers. On the other hand, if the pair is able to continue bullish through R1 then go-short could be an option. Trade with your own risk, stay alert to the volatility of the market.

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