GBPCAD approaching support, potential bounce!

analytics5f17c1c4bc02f.jpg

Trading Recommendation

Entry: 1.70751

Reason for Entry: Ascending trend line, horizontal overlap support, 78.6%, 38.2% fibonacci retracement and 78.6% fibonacci extension

Take Profit: 1.71571

Reason for Take Profit: Horizontal swing high resistance

Stop Loss: 1.70285

Reason for Take Profit: 127.2% fibonacci retracement

The material has been provided by InstaForex Company - www.instaforex.com