GBPCAD reacting below descending trendline resistance. A short term drop below our 1st resistance at 1.72977 towards 1st support at 1.72371 could be possible.Stochastic is testing resistance where price reacted in the past as well.
Reason for Entry:
78.6% Fibonacci retracement, Descending trendline resistance
Take Profit: 1.72371
Reason for Take Profit:
61.8% Fibonacci retracement
Stop Loss: 1.73555
Reason for Stop Loss:
Graphical swing high
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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