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Gbp-cad

GBPCAD bounced off support, potential for further bounce!Price is approaching our first support (horizontal swing low support, short term ascending support line, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce to our resistance (horizontal swing high resistance, 50% Fibonacci retracement) might occur. Stochastic is also seeing a bounce where we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by easyMarkets
GBPCAD Possible Long OpportunityWe have bullish divergence (pink) but bearish minor divergence (orange) The harmonic is complete but it looks like there might be some room left in this wedge shape to fill, If we get another low I'll buy it if the pink divergence holds up and we get a candle pattern, at the moment we are still down trending and i would need to see a previous high get knocked out if i'm going to buy (that is if we don't get another low) I'd prefer to see another low.
Long
by elevatedinvestor
GBPCAD Fibonacci Analysis: Structure & Fib Confluence at TargetOn GBPCAD we have a potential short setup based solely on Fibonacci levels. After a large drop , price rebounded up to the PINK .618 Fibonacci retracement level , which coincides with the RED 1.272 and 1.414 extension of the recent bullish leg. High momentum rejection followed and price moved down until it found support at the ORANGE . 618 retracement I expect price to find resistance at the PURPLE reversal zone between the .382 and . 618 retracement . If price respects this level, I will look to short and take profit at the BLUE 1.272 extension level. If you look left, this 1.272 extension has confluence with multiple levels of structure around the 1.736-1.74 prices.
Short
by AidanMDang
Are you a drunken idiot?You can see our support and resistance zone ( red box ) that is marked out with arrows to show where this zone has been respected as support ( orange ) and resistance ( purple ) Now price is currently hanging around this zone like a drunk idiot who doesn't want to leave the bar at closing time because he has spent all night trying to hit on the bar maid who is 20 years younger and way out his league... yes he gets REJECTED and goes home alone... just like price here is going to get REJECTED and make bearish movements. We can see price making moves down to our TP zone ( green box ) This would give you around 80-100 pips. As always with GBP pairings trade with caution until the muppets that run this country can decide what they are doing.
Short
by ApexFX_Pro