As we suggested earlier, the GBP/CAD pair is forming a head and shoulder pattern in the 4 hour time frame.
The same price action resembles as sideways movement in 1-Hour time frame.
Generally sideways pattern is a continuation and so we can expect a bearish breakout.
Currently the pair is trading at top end of its sideways pattern and so it is a good time to make a short entry.
The same price action resembles as sideways movement in 1-Hour time frame.
Generally sideways pattern is a continuation and so we can expect a bearish breakout.
Currently the pair is trading at top end of its sideways pattern and so it is a good time to make a short entry.
Trade closed: target reached
