GBPCAD has approached to important level after bouncing from 0.5 fib level. Two senario can play form here;
a) Bullish: It is looking in good momentum after bouncing from fib level 0.5. It will likely to break the overhead resistance. One can take long position on break of horizontal area.
b) Bearish: Last time price hit from the same zone and took correction of around 300 pips. If it gives bearish sign then one must look to short it.
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