CapMoore

Attempting to break higher chasing monthly critical resistance

FX:GBPCAD   British Pound/Canadian Dollar
41 0 2
Price made a sharp run up in aug-13 to feb-14 from a
multiyear consolidation after the long bear run 2004-
2010. In March 2014 price made a clean bullish kumobreak
(Not bearish as written in the chart)
but has since produced sideways action in a Flag pattern
with slightly descending PA. On Monthly close basis 0,7780
is the critical level since with a close above, price would
avoid to enter the kumocloud on monthly tf and maintain
bullish prospects and the bullish trend . On weekly tf trend
is neutral.On lower tf trend is bearish but price is trying to
break above the descending trendline , and the triangle
pattern. We might se a run towards monthly resistance
if a break appears.
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