Kaetea_Ng
Short

GBPCAD correcting off of the 0.618 extension

FX:GBPCAD   British Pound / Canadian Dollar
Hello Traders,
Here is an analysis on GBPCAD .

Price consolidated in a triangle pattern and then broke to the downside. Now it's testing the 0.618 fib. extension and I've drawn fib. retracement levels to determine probable correction levels.

The 0.382 confluences well with the low of the pattern while the 0.618 retracement confluences well with the breakout level.

We will observe the price action to determine good entry opportunities.

Kaetea Ng
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