The door is open on GBPCAD & GBPCHF

The British pound sterling economic data nowadays seems like made some of the GBP pairs have a clear position.

Price on GBPCAD and GBPCHF has broken the daily resistance level. This movement opens the door to start hunting for a long opportunity. Both pairs had been trading lower for several month, but if we look it closely, the price already printed low and pullback higher then broke the resistance area.

Next thing that I will do is waiting for the price to pullback and retest the daily resistance level, which now act as the new support level, and start hunting for the bullish signal around that level. This opportunity could emerge in the intraday timeframe such as the 4-hour chart.

GBPCAD daily chart


GBPCAD 4-hour chart


GBPCHF daily chart


GBPCHF 4-hour chart



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