YGForex

GBPCAD Reached Demand Zone...

Short
FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD managed to make a 61.8% fib level retracement after the BULLISH movement. Now, we start to see BULLISH candle forming as price head towards the demand zone . I am expecting some BEARISH pressure as price level is currently in this demand zone . As of now, I will be looking for a short opportunity to the support level @1.7068. Having said that, we can potentially a BEARISH movement all the way down to 38.2% fib level.

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Comments

Hi, would you consider this set up still valid? Thanks
+1 Reply
YGForex ReshapeFX
@ReshapeFX, It is still valid as of now
Reply
Wonderful analysis! I like this setup.
Reply
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