Before we start with this analysis, do check out my previous GBPCAD. (Link Below) For those who took a look at that analysis, this analysis will be a continuation from the previous analysis. We saw the fall to 61.8 fib level (also a support at 1.7260) and today's candle we can see a nice rejection off this level. I will be seeing a BULLISH continuation after this retracement to 61.8 fib level. Next level I will be looking at is 23.6 fib level with a nice resistance level @ 1.7492. If we were to see a breakout off that level, a BULLISH continuation is definitely possible. Therefore, do keep a look out at 23.6 fib level when you long this pair.
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Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
