ForceFollower

GBPCAD At Quadruple Tops

Long
FX:GBPCAD   British Pound / Canadian Dollar
0
It looks like this pair is meeting a very strong resistance at the recent tops at 1.855, as it formed quadruple tops. Now it may get pressed downward and make a new low, instead of the expected by me new high. However, at the last retracement it went only as far as Ret-0.382, so it is also possible that the bulls will be strong enough to overcome that resistance and push it up to new highs. And that is actually my bet. Now I only wonder what the market's answer is going to be.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.