GBPCAD is looking to moving higher if it could breat through the down sloping resistance holding it(NECKLINE).
On the 4hours time frame the price chart of GBPCAD has been spotted forming a bullish continuation chart pattern called The Head and Shoulders Bottom.
Just as we as analysed before based on the down-sloping neckline(resistance) play out ore variably on any time frame.
A consistent test of resistance or support is giving a near sign that price is about break that level at no time. The area of concentration are the resistance ahead after a clean breakout.
Breakout- 1.63525
Resistance 1- 1.64229
Resistance 2- 1.64980
Resistance 3- 1.65729
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
On the 4hours time frame the price chart of GBPCAD has been spotted forming a bullish continuation chart pattern called The Head and Shoulders Bottom.
Just as we as analysed before based on the down-sloping neckline(resistance) play out ore variably on any time frame.
A consistent test of resistance or support is giving a near sign that price is about break that level at no time. The area of concentration are the resistance ahead after a clean breakout.
Breakout- 1.63525
Resistance 1- 1.64229
Resistance 2- 1.64980
Resistance 3- 1.65729
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.