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hzs

Looking For Short Opportunity on Descending Triangle

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
hzs  
FX:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Chart Patterns forex100 Forex GBPCAD Descending Triangle currency trading tradingideas tradeideas
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trendanalysis chartpattern forex100 forex gbpcad descendingtriangle currency trading tradingideas tradeideas
Pound on defensive due to political turmoil. However, it is pretty flat across against its peers. Market has not fully price in for the political risk. However I am still bearish on pound. If price break below the support level I will look for short.

Reward to risk for this analysis is 5 : 1

Nevertheless, there is a chance of reversing upwards too. If market break above 1.6723, I will look for long opportunity.
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