A slow but a consistent rally has reached the 1.618 Fibonacci extension level. Price has been experiencing consolidation among this level, some may look at this as the "Distribution" phase before heading bearish.
However, looking at past price action it seems a correction could be due for GBPCAD, maybe as far as this 1.618 extension.
Until next time.
However, looking at past price action it seems a correction could be due for GBPCAD, maybe as far as this 1.618 extension.
Until next time.
Trade active
Price broke past the Fibonacci ratio thus cancels the 1.618 projection.Until next time.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.