FX:GBPCAD British Pound/Canadian Dollar
The GBP/CAD 1H chart is trading in a well defined environment. we have had a nice 1-2-3 , 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 on the pair and we'll be looking for some price action to send us long in the hopes of getting a impulse back to the (2) point.