GBPCAD - Potential 1:6 R:R
** This is simply an opinion and not a signal, please do your own analysis and ensure you follow your trade plan **
With Recent Key levels being reached by GBP Pairs across the board, There have been multiple opportunities to watch for some long setups.
GU, and GJ, have already provided good returns.
In relation to GCAD, We see it has approached a key level of 1.7xxx. This also coincides with an ascending T.L, to form quite a strong area of interest.
Rejection of this level by several candle shows this may be a good opportunity to go long.
TP would be the overall bearish Fibonacci retracement of 50% where the largest resistance seems to lie.
With Recent Key levels being reached by GBP Pairs across the board, There have been multiple opportunities to watch for some long setups.
GU, and GJ, have already provided good returns.
In relation to GCAD, We see it has approached a key level of 1.7xxx. This also coincides with an ascending T.L, to form quite a strong area of interest.
Rejection of this level by several candle shows this may be a good opportunity to go long.
TP would be the overall bearish Fibonacci retracement of 50% where the largest resistance seems to lie.
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