GBPCAD has respected the Fibonacci retracement levels in the past very well as you can see it from the chart also from the current level it has to take the support at a 61% level. GBPCAD is also trading in rising wedge pattern. Long side trade can be initiate for a shorter time from the current price level & the target will be a meeting point of the resistance level of the rising wedge and the 72% Fibonacci retracement resistance level .

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Thanks
Vivek Samale

Vivek_Samale
Vivek_Samale

I have half a decade of experience as a trader and enthusiastically learning & developing new strategies in algorithm trading & also analyzing the companies with New ESG method.