GBP/CAD mark: 1.70794
Forecast:
1. Below the ascending longitudinal line : Sell
TP: 1.69000 and 1.66000
SL: 20 pips above that line
2. Above the ascending longitudinal line: Buy
TP: 1.74500
SL: 20 pips below that line
H4 Key points:
Top resistance: 1.74514
1st Support: 1.70800
2nd Support: 1.69000
Price is now at the important Fibonacci Retracement (61.8%) indicator. and it is at the ascending longitudinal line. Stochastic is also at the bottom and preparing to go upside. So, my advice is buy now with top resistance as target with a little risk of 20 pips below the blue line.
Forecast:
1. Below the ascending longitudinal line : Sell
TP: 1.69000 and 1.66000
SL: 20 pips above that line
2. Above the ascending longitudinal line: Buy
TP: 1.74500
SL: 20 pips below that line
H4 Key points:
Top resistance: 1.74514
1st Support: 1.70800
2nd Support: 1.69000
Price is now at the important Fibonacci Retracement (61.8%) indicator. and it is at the ascending longitudinal line. Stochastic is also at the bottom and preparing to go upside. So, my advice is buy now with top resistance as target with a little risk of 20 pips below the blue line.