GBP/CAD Possible buying pressure after retest

3 בינו׳ 2019

Looks like Gbp/Cad has made its retest at key levels and buyers are ready to take control for a moment at least to 38.2 fib. Which is giving us a good risk to reward.
Fibonacci is drawn from the swing low to swing high and the price has retested important level at 61.8 fib and also made it above 50% fib, where it currently fights for its way to up.

A Trend is obviously still bullish.

Stop loss is below 4hr bullish engulfing and that gives a trade room to breath.

Remember always to use correct money management.


AlexTea