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GBPCAD approaching resistance, potential drop!

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
Tickmill Broker  
FX:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Chart Patterns Harmonic Patterns GBPCAD GBP CAD gbpcadlong gbpcadshort Forex forextrading forexsignals
33
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trendanalysis chartpattern harmonicpatterns gbpcad gbp cad gbpcadlong gbpcadshort forex forextrading forexsignals
GBPCAD is approaching our first resistance at 1.7048 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 1.6963 (61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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