GBPCAD: Interesting Buy Opportunity

This is a very interesting market for watching - the price bounces from the support zone, which was confirmed in 2016 and 2017 years. RSI tells us about the oversold market conditions. MACD histogram is going to confirm the upward movement.

In spite of strong downtrend, the market has opportunities to move upward. The price has been falling for about four months, and a correction movement from the strong support zone looks logical.

Buy signals can be used from the weekly and lower timeframes. The stop orders must be placed below the support zone. Profit targets should be placed at the resistance levels. Don't forget about proper money management.