GBPCAD | Important Level

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.

Trade your levels accordingly.