GBPCAD reversed from resistance zone

GBPCAD currency pair just reversed down from resistance zone made out of the key resistance level 1.7160 (which has been reversing the price in the last few trading sessions), 38% Fibonacci correction of the downward impulse from April and the upper daily Bollinger Band. The price earlier formed the daily Torch Sell reversal Pattern (Proprietary to Selected Alpha) – which is also adding to the bearish pressure on this currency pair. Next support stands at 1.7073.

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