SamKent

Shorting zones and a big bullish W pattern

FX:GBPCAD   British Pound / Canadian Dollar
1
Taking a look at the GBP/CAD 4H chart, we can see we're currently trading at an important support&resistance level, we do expect some reaction here, so taking a shorter term short is appropriate. In the longer perspective, the next major resistance is around the 1.8500 handle, which would also complete a long-term W pattern. Some reaction there is very likely as well, however, if the pair ends up breaking the big W, this could signal a major bull trend possibility.