SamKent
Long

GBP/CAD PRICE ACTION ANALYSIS

FX:GBPCAD   British Pound/Canadian Dollar
95 0 2
The GBP/CAD             1H chart is trading in a well defined bullish environment. we have had a nice 1-2-3 bullish pattern , and now we're looking for our next 3 point. Current price action has formed a wedge formation, and if that breaks to the upside it would send us long. The key point in this kind of trade is to discard it as soon as the initial point 2 is broken, in this case, our line in the sand is thus: 1.82300. As long as price trades above this level, we're bullish on the pair and we'll be looking for some price action to send us long in the hopes of getting a bullish impulse back to the (2) point.
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