akyong
Short

GBPCAD: Trading the Retracement

FX:GBPCAD   British Pound/Canadian Dollar
97 2 2
On the H4 chart, price has broke and closed below the previous structure level.

Shorting opportunities should be around the 38.2 to 50.0 fibonacci retracement zone which is in confluence with the downtrend line and previous structure level.

Stops can go just above the 61.8 retracement level.
GBPCAD might have limited room to the downside as possible wave completion and fib zone come it to play.
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yup :)
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