GBPCAD The RSI hasn’t been this oversold since 1985!

The GBPCAD pair has been on a strong yearly decline, especially as of late. The 1M (monthly) RSI is currently at 20.87, the lowest it has been since January 1985. That is a good enough reason of its own to buy the pair. There are striking resemblances with the early 2000s fractal. A rebound on the Channel Down pattern’s bottom can push the price all the way to its top and the 1M MA50 (blue trend-line). Be ready to offset some risk though to complete a -24.85% decline, if the Channel’s bottom breaks.

Tradingview link:

https://www.tradingview.com/chart/GBPCAD/4DgO9Fw1-GBPCAD-The-RSI-hasn-t-been-this-oversold-since-1985