FX.co ★ GBPCAD holding above ascending trendline support! Bounce incoming!

GBPCAD is holding above ascending trendline support. With technical indicators showing room for further bullish upside, a further push up above our 1st support at 1.73312 towards 1st resistance at 1.73818 could be possible.

Trading Recommendation

Entry: 1.73312

Reason for Entry: 38.2% Fibonacci retracement, ascending trendline support

Take Profit: 1.73818

Reason for Take Profit: -61.8% Fibonacci retracement, 100% Fibonacci extension

Stop Loss: 1.72972

Reason for Stop Loss: 76.4% Fibonacci retracement, Graphical swing low.