GBP/CAD Woodies Pivot Points refer to the price level of significance of the GBP/CAD market in technical analysis. It can be used as a predictive indicator of movements in the GBP/CAD market. Woodie's pivot points are similar to classic pivot points, but are calculated a bit different, giving more weight to the Close price of the previous period. Support & Resistance concept refers to the movement of the price of an instrument and represents the point at which the supply and demand meet. Support is the price level at which demand is thought to be strong enough to prevent the price from declining further and Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising further. There are various kinds of Pivot Points calculations (Classic, Fibonacci, Camarilla and DeMark's), on this page the Woodies way is presented.