GBPCAD neutral

Important GBPCAD level is reached, what's next?

27 September 2022 294
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GBPCAD, as expected, found its support at a round number 1.5. However, the new British government plans to introduce the biggest tax cuts package for 50 years. It caused another pound collapse, and this time the 1.5 level was reached.

Yesterday's huge doji candlestick could be the local bottom. It’s likely to be followed by a small rebound. The "bulls" will want to test the 1.5 level again, which in this case will try to resist.

This content is for informational purposes only and is not intended to be investing advice.

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