GBP/CAD
Time frame: H4
Technical Analysis: For some time now, for GBP/CAD pair we see a strong range between levels 1.77 - 1.73. The chart shows a trend line starting from the bottom at 1.7360, and from there continued on the next levels of support. At one point, the line was broken and support became resistance. For some time the price was moving under it, and on May 3, 2019, it was broken upward. The price is now laying on the line, as well as 23.6% on Fibonacci. If the price succeeds to hold on to it again, then we can enter the market with "buy" orders.
Indicators: Currently, the price is over 50 and 200 EMA, and they play a role of support.
RSI - In neutral territory and does not give signals at this stage.
Entry into Deal: From current levels
SL: 1.7540
Alternative Scenario: If the price can break 23.6% Fibonacci and the aforementioned trend line, then we can see a fall in the currency to the next strong support that is at Fibonacci 38.2%.
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