The GBPCAD ended the last bearish correctional by its stability near 1.8390, facing the moving average 55, reinforcing the stability of the extra support near 1.8355, increasing the chances for renewing the positive action in the near and medium period trading.

 

Therefore, we will begin by preferring the bullish trading that might target 1.8470 level, reaching the next target at 1.8580, while the price declined below the support mentioned and holding below it, will confirm its surrender to the bearish correctional scenario, which forces it to suffer more of the losses by reaching 1.8310 and 1.8270.

 

The expected trading range for today is between 1.8360 and 1.8470

 

Trend forecast: Bullish