#Technical_analysis of the #GBP/#CAD pair :
The British Pound has gained during the previous period, causing the pair to rise. On the 4-hour and daily timeframes, the pair has entered an overbought state. The Forex Trade Time analysis team believes that the markets for this pair will see a bearish reversal in the coming period.
On the 4-hour timeframe, the RSI indicator has crossed above the 70 level at the start of the day’s trading, but has since reversed and broken below this level, as of the time of writing this report.
On the daily timeframe, the same RSI indicator has touched the 70 level and has also started to reverse.
Additionally, on both the 4-hour and daily MACD indicators, the signal lines have shown the same analysis, indicating a price reversal.
All of this provides a signal for potential profit opportunities from the impending reversal.
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