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Daily Forex Chart Art - Oct. 20, 2015

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/CAD: 4-hour For the fans of break-and-retest setups out there, y’all didn’t think I’d miss this one on GBP/CAD’s 4-hour forex chart, did ya? After breaking below the head and shoulders neckline around 2.0150, the pair dipped to a low of 1.9735 before bouncing back up. Using the Fib tool on the latest swing high and low shows that the broken neckline support coincides with the 50% Fibonacci retracement level, which might hold as resistance. This is also close to the dynamic inflection point

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