FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD

This pair created multiple rejections at the highs before printing a top reversal. Those rejections on the 1 hr time frame formed a Micro level of resistance in the market. If this level holds we could see a test of the 78.6 level on the Fib.

If Momentum remains bullish on the higher time frames we could see a break of the highs. If that occurs I'll wait double top to be broken above, then look for the retest of that broken resistance level.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.