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GBPCAD approaching support, potential bounce!

Oleh Tickmill
Broker
GBPCAD is approaching our first support at 1.7268 (horizontal pullback support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level to our major resistance at 1.7443 (38.2% Fibonacci retracement).
Stochastic (34,5,3) is also approaching our support where we might see a bounce in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
CADChart PatternsGBPGBPCADgbpcadlonggbpcadshortHarmonic PatternsTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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