Tickmill

GBPCAD approaching support, potential bounce!

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FX:GBPCAD   Libra Esterlina/Dólar Canadense
GBPCAD is approaching our first support at 1.6458 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong bounce might occur pushing price up to our major resistance at 1.6833 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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