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British Pound / Canadian Dollar
Short

GBPCAD: Very Bearish Setup 🇬🇧🇨🇦

By VasilyTrader
Updated
snapshot

GBPCAD leaves various bearish clues:
At the end of November, the pair reached a major daily structure resistance area,
formed a head and shoulders pattern on that and then broke and closed below a support line of a rising wedge pattern
breaking h&s's neckline as well.

Now I expect a fall at least to 1.675 level.

For entries, consider the occasional retest.

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Note
Check my new analysis on CADCHF:
CADCHF: Structure Short With Confirmation 🇨🇦🇨🇭
canadiandollarforecastGBPGBPCADHead and ShoulderspoundpriceactionanalysispriceactiontradingSupply and DemandWedge
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