GBP/CAD Getting Ready for a New Wave Up as the Inverted Head and Shoulders Appears

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/CAD is slowly getting bullish. At this point we can see that the trend line is broken after the Inverted Head and Shoulders Pattern showed up.

1.7280-90 is the zone where we could see the bounce up. Inverted Head and Shoulders pattern marks the move up and a breakout higher. Targets are 1.7320 and 1.7344. If we see the break of the ATR projected high (1.7344) we will probably go higher next week towards 1.7420. As long as the inverted head and shoulders is in play, bulls will be stronger.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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