GBPCAD approaching resistance, potential drop!

GBPCAD is approaching our first resistance at 1.6937 (horizontal overlap resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.6827 (50% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
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CADChart PatternsForexforexsignalsforextradingGBPGBPCADgbpcadlonggbpcadshortHarmonic PatternsTrend Analysis

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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