Technical Analysis – GBPCAD cautiously positive as decline hits a wall at the 50-day SMA

GBPCAD’s aggressive reversal marginally ahead of the previous high from March 12 of 1.7793 has come to a standstill at the 1.7058 level – which is the 38.2% Fibonacci retracement of the up leg from 1.5874 to 1.7790 – that previously restricted further advances in the pair. The short-term oscillators reflect conflicting signals in directional […]