GBP/CAD: 1-hour
Can GBP/CAD resume its climb soon? Stochastic has been lingering in the oversold area for quite some time, which means that sellers are already feeling very exhausted. GBP/CAD might be able to find support at the nearby 50% Fibonacci retracement level or the 1.8050 minor psychological mark, as these line up with a former forex resistance level. If this area holds as a floor, the pair might be able to return to its previous highs near the 1.8250 minor psychological resistance. A deeper pullback might last until the 61.8% Fib or perhaps the 1.8000 major psychological handle.
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