GBPCAD approaching resistance, potential drop!
GBPCAD is approaching our first resistance at 1.7059 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6%, 38.2% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.6862 (horizontal swing low support, 100% Fibonacci).
Stochastic (89,5,3) is seeing a bearish divergence and is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is seeing a bearish divergence and is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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