Hello guys, this is my analysis on GBPCAD
1.652 area, the rejection of trend line suggests that we are back in downtrend on lower time frame.
Price seems to be forming the right shoulder of a Head and shoulder pattern.
I expect price to pull back to 1.6372 with another rejection from there. It will be the short signal as well.
I will take profit at 1.6245 and wait for another signal.
1.652 area, the rejection of trend line suggests that we are back in downtrend on lower time frame.
Price seems to be forming the right shoulder of a Head and shoulder pattern.
I expect price to pull back to 1.6372 with another rejection from there. It will be the short signal as well.
I will take profit at 1.6245 and wait for another signal.