GBPCAD.. areas to buy?

July 23, 2014 by

Good Morning. We have seen a sell off of GBP crosses this morning. One cross which looks interesting is GBPCAD. The reason is, it shows the characteristics of being in a range on the daily charts, but on M30, H1 it is oversold and approaching oversold areas on the H4. Only thing to watch out for is the spread so this is not a trade for a quick scalp. I have also shown a chart of the trade which has a upward trendline coming in on the H4 chart.

gbpcadh4