GBPCAD Facing Bullish Pressure | 18 June 2021

GBPCAD Facing Bullish Pressure | 18 June 2021 for FOREXCOM:GBPCAD by FXCM

GBPCAD Facing Bullish Pressure | 18 June 2021



GBPCAD broke out of a sideways range to the upside. With price holding above ascending trendline support, we expect price to face further bullish pressure above 38.2% Fibonacci retracement and entry at 1.71788. With a possible upside target at Fibonacci confluence zone at 1.72936. MACD is above 0, showing room for further bullish pressure as well.

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