GBPCAD Head & Shoulder Pattern Forming...

FX:GBPCAD   British Pound / Canadian Dollar
20 0 1
GBPCAD's bullish move is running out of steam. We can see a Head & Shoulders starting to form.

It will take the following for the Head & Shoulder pattern to be confirmed:
  • Price not going above previous high (25 May)
  • Break of the Neckline

Once price closes below the neckline, we would wait for price to retrace & retest the neckline & form bearish price action before pulling the trigger on a short trade.

Happy trading!

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