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Gbpcadanalysis

GBP/CAD:FUNDAMENTAL ANALYSIS+PRICE ACTION|NEXT TARGET|LONG 🔔🔔UK Retail Sales for July decreased 2.5% monthly and increased 2.4% annualized. Economists predicted an increase of 0.4% and 6.0%. Forex traders can compare this to UK Retail Sales for June, which increased 0.2% monthly and 9.2% annualized. UK Core Retail Sales for July decreased 2.4% monthly and increased 1.8% annualized. Economists predicted an increase of 0.3% and 5.7%. Forex traders can compare this to UK Core Retail Sales for June, which increased 0.3% monthly and 6.8% annualized. UK Public Sector Net Borrowing for July was reported at £9.620B and UK Public Sector Net Cash Requirements at -£2.290B. Forex traders can compare this to UK Public Sector Net Borrowing for June, reported at £20.730B, and UK Public Sector Net Cash Requirements, reported at £11.193B. Canadian Retail Sales for June are predicted to increase 4.4% monthly, and Canadian Core Retail Sales are predicted to increase 4.6% monthly. Forex traders can compare this to Canadian Retail Sales for May, which decreased 2.1% monthly, and Canadian Core Retail Sales, which decreased 2.0% monthly. The forecast for the GBP/CAD turned bearish for the short-term after extending a powerful rally. Traders should prepare for a minor sell-off, but the long-term uptrend is intact, and price action can move higher. Positive trends also exist in the Ichimoku Kinko Hyo Cloud, and after this currency pair corrects into it, an extension of the advance is likely to follow. After the stochastic accelerated into extreme overbought territory, traders should await a pullback and remain patient. Can bears pressure the GBP/CAD into a correction before bulls resume their stampede higher?
Long
by FOREXN1
1
#GBPCAD waiting for 4HR support area to potential to Buy!#GBPCAD Price is trading the near by Support Area once price come with marked support then you will confirm the any bullish candlestick formation and watch breakout the trend line Why we like it: Price Trading in 4HR support area watch the trend line breakout moving to the next resistance area 1st support: 1.73693 Next Zone area & horizontal swing Low support 1st Resistance 1.74449 Zone area & horizontal swing high resistance
Long
by Skandhatrade