GBPCAD Short

4 apr 2020

Some more clean and simple analysis, there's a clear HS pattern that has formed (Highlighted by the blue boxes) and the price is currently rejecting off a solid resistance area just below the neck line. From here we should see the price nicely move to the downside hitting previous support zones and possibly breaking through each one pushing lower and lower, we'll have to wait and see. My targets will be set around the previous support areas and my stop loss will be placed above the previous resistance area. I'm aware that i'm not the only person to have picked up on the HS pattern on this pair so I feel a little late to the party posting this one but I just thought i'd throw it in there anyway!