GBP/CAD Technical Analysis

• Bullish SHS on Daily TF
• Breakout is expected
• Positional entry has been established
• M H5/ Q H3 are targets
  

1. Left shoulder
2. Head
3. Right shoulder
4. Entry
5. Target

GBP/CAD is turning bullish and we can see that marubozu candlestick has been printed out. If the market remains bullish, we should secure profits around 1.7100 zone as continuation is expected but its a strong resistance. The market has also made a bullish SHS pattern at the bottom and we should see a steady move up. Any move and close above 1.7025 should see the GBP/CAD moving further up. Watch for a potential breakout of the bullish SHS pattern towards the target zone.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad