FX:GBPCAD   British Pound / Canadian Dollar
Hi traders, here I am looking to short GBPCAD. I am also looking to short GBPJPY as both of these pairs are at critical weekly resistance levels. As for this GBPCAD pair it is making a double top formation. As I do not use indicators often but do find an occasional use for them for extra confluence (and because they look cool) price is touching the top of the Bollinger Band and also the RSI and Stochastic are making double top formations as they are approaching over sold regions. And aggressive entry would be to enter now or just wait for a more conservative entry by entering after the daily candle close today if this candle can close bearish. My target profit will be previous support for a profit of 500 pips with a risk of about 170 pips. About a 3.5/4:1 risk reward. Thank you for reading and happy trading!
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