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Short

GBPCAD approaching resistance, potential drop!

FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD is approaching our first resistance at 1.7495 (horizontal swing high resistance, 100% Fibonacci extension , 50% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1.7294 (100% Fibonacci extension , 50% Fibonacci retracement ).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

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