• GBPCAD approaching support, potential bounce!

    GBPCAD is approaching our first support at 1.6458 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong bounce might occur pushing price up to our major resistance at 1.6833 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce […]

  • GBPCAD approaching resistance, potential drop!

    GBPCAD is approaching our first resistance at 1.6937(horizontal overlap resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.6827 (50% Fibonacci retracement). RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price. Trading CFDs on margin […]

  • GBPCAD approaching resistance, potential drop!

    GBPCAD is approaching our first resistance at 1.7182 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.6951 (horizontal overlap support, 100% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching our resistance and a reaction below […]

  • 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 […]