PrimeXBT
Long

GBPCAD- Pierce the resistance and make a new high

FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD is looking to moving higher if it could breat through the down sloping resistance holding it(NECKLINE).
On the 4hours time frame the price chart of GBPCAD has been spotted forming a bullish continuation chart pattern called The Head and Shoulders Bottom.
Just as we as analysed before based on the down-sloping neckline(resistance) play out ore variably on any time frame.
A consistent test of resistance or support is giving a near sign that price is about break that level at no time. The area of concentration are the resistance ahead after a clean breakout.
Breakout- 1.63525
Resistance 1- 1.64229
Resistance 2- 1.64980
Resistance 3- 1.65729
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Ideas published should not be referred to as an investment advice.
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