GBP/CAD Bear Flag Breakout - Trend Continuation
GBP/CAD has developed a large Bear Flag on the hourly chart.
On macro scale, GBP/CAD is moving sideways, currently with BEARISH MOMENTUM (look at 4H chart)
On hourly chart, we see further bearish movement and recent formation of a large Bear Flag
We recently broke below the channel of the flag, and price is currently retesting resistance.
Short to next structure support, and if we follow the length of the flag pole, we can set our second target to even lower structure support.
On macro scale, GBP/CAD is moving sideways, currently with BEARISH MOMENTUM (look at 4H chart)
On hourly chart, we see further bearish movement and recent formation of a large Bear Flag
We recently broke below the channel of the flag, and price is currently retesting resistance.
Short to next structure support, and if we follow the length of the flag pole, we can set our second target to even lower structure support.