Hello guys,
In GBPCAD case, we have 2 double bottoms, the first one highlighted in green, the second one in blue, most likely we will have the following scenarios :
1- The first move will be probably downward to test the 1 H chart double bottom neckline (highlighted in blue/ level 1.6855).
2- Firssecond move will be probably upward to resume the uptrend of the first double bottom ( highlighted in green).
3- If the price goes above the red trendline, we may see a downward move to test the neckline of the first double bottom ( highlighted in green/ level 1.699-1.6967 ).
4- price will resume the uptrend to the second red trendline.
remember, Always wait for confirmation before entering these trades, and apply proper money management.
Thanks