GBP/USD 4-hour: Moving below the 23% Fibonacci level.
Invest Diva positioning: Short positions below 1.5145 with targets at 1.5020 and 1.4954 in extension.
Technical reasons why: The pair is moving up and down below the 23% Fibonacci level and the Ichimoku’s cloud. The RSI is below the neutrality area.
Alternative Scenario: Above 1.5145 look for further upide with 1.5223 and 1.5286.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.4954 | 1.5020 | 1.5224 |
| 1.4847 | 1.5145 |
USD/CAD 4-hour: Testing the resistance level.
Invest Diva positioning: Long positions above 1.2659 with targets at 1.2779 and 1.2971 in extension.
Technical reasons why: The pair is testing the resistance level above the Ichimoku’s cloud with the RSI above the neutrality area.
Alternative Scenario: Below 1.2659 look for further downside with 1.2524 and 1.2090.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2524 | 1.2659 | 1.2971 |
| 1.2390 | 1.2779 |
#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.
