GBP/CAD eases from 1.7368, highest since May 07 amid overbought RSI. A sustained break of the key SMA confluence and 50% Fibonacci retracement keeps the bulls hopeful. 1.7120/15 acts as an additional downside barrier, 61.8% Fibonacci retracement offers immediate resistance. GBP/CAD takes rounds to 1.7335 amid the early Thursday morning in Asia. The quote recently surged to a multi-day high following its successful break of 50% Fibonacci retracement of March month’s fall. However, overbought RSI conditions offer breathing space to the bulls, which in turn can lure sellers seeking entries. In doing so, the resistance-turned-support of 1.7300, comprising 50% Fibonacci retracement, will be important as a break of which can trigger fresh selling towards the confluence of 100-day and 200-day SMAs near 1.7165/60. Though, the pair’s further downside will be restricted by a descending trend line from the early-March and 38.2% Fibonacci retracement level near 1.7120/15, a break of which will attack the 1.7000 threshold. Meanwhile, 61.8% Fibonacci retracement level of 1.7490 and 1.7500 round-figures are on the buyers’ watch-list during the additional north-run. Given the quote’s successful rise past-1.7500, the April month’s high around 1.7700 will be in the spotlight. GBP/CAD daily chart Trend: Pullback expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Senior Adviser: White House to lure US firms to Latam from Asia in nearshoring drive – Reuters FX Street 3 years GBP/CAD eases from 1.7368, highest since May 07 amid overbought RSI. A sustained break of the key SMA confluence and 50% Fibonacci retracement keeps the bulls hopeful. 1.7120/15 acts as an additional downside barrier, 61.8% Fibonacci retracement offers immediate resistance. GBP/CAD takes rounds to 1.7335 amid the early Thursday morning in Asia. The quote recently surged to a multi-day high following its successful break of 50% Fibonacci retracement of March month’s fall. However, overbought RSI conditions offer breathing space to the bulls, which in turn can lure sellers seeking entries. In doing so, the resistance-turned-support of 1.7300, comprising 50% Fibonacci… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
