USDCAD (not shown) is trying to break above channel resistance from the March high and I remain constructive GBPUSD so I thought that it would be interesting to look at GBPCAD. I did…and it is interesting! A nearly 2 month head and shoulders bottom may be in the works and price held the trendline from the August 2019 low. The neckline for a breakout is 1.7175 but I’m constructive while above 1.6940. There is a short term trendline near 1.7120 early in the week that is worth monitoring for a breakout.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.