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GBP/CAD mark: 1.51200
Forecast: hold
H4 Key points:
Top resistance: 1.53500
1st Support: 1.50500
2nd Support/floor: 1.49500
Stochastic: preparing for going down
Price already started it's north path as candle showing from the floor. The target is the top resistance but the Stochastic seems to indicate that for this period (H4) the price is now overbought and it is expected some retracement. So, my advice is hold on and BUY around the floor or close to the 1st Support. It is totally unexpected any floor line breaking for now, however put SL slightly below main support... just in case.
Forecast: hold
H4 Key points:
Top resistance: 1.53500
1st Support: 1.50500
2nd Support/floor: 1.49500
Stochastic: preparing for going down
Price already started it's north path as candle showing from the floor. The target is the top resistance but the Stochastic seems to indicate that for this period (H4) the price is now overbought and it is expected some retracement. So, my advice is hold on and BUY around the floor or close to the 1st Support. It is totally unexpected any floor line breaking for now, however put SL slightly below main support... just in case.
