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FxWirePro: GBP/CAD faces strong resistance around 2.1100, good to sell on rallies

  • Major Support -2.0935
     
  • Major resistance- 2.1100
     
  • The pair has retreated after making a high of 2.1100. It is currently trading around 2.09590.
     
  • The pair's major support is around 2.0935 and break below targets 2.0890/2.0845 in short term.
     
  • Short term trend is weak as long as resistance 2.1100 holds.
     
  • On the higher side minor resistance is around 2.1000 and any break above targets 2.1100/2.1250.
     
  • Overall bearish invalidation only above 2.1250.

It is good to sell on rallies around 2.1025-2.1030 with SL around 2.1100 for the TP of  2.0890/2.0850

 

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