GBPCAD Rectangular bottoms!Some rectangular bottoms have formed on the GBPCAD pair, i count 6 touches included wick ends on the first and looking for a 6th touch on the lower trendline on the second rectangular bottom.
Gpdaud
GBPAUD Approaching Resistance, Prepare For Reversal!Sell below 1.7666.
Stop loss at 1.7810.
Take profit at 1.7303.
Reason for the trading strategy (technically):
GPDAUD is approaching its resistance at 1.7666 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where a reversal to its support at 1.7303 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding drop is expected.
