YGForex

What is a GOOD ENTRY for GBPCAD???

FX:GBPCAD   British Pound / Canadian Dollar
From my previous analysis, we were able to predict a correct BEARISH movement from the formation of a h&s pattern with a breakthrough of the trend support level . After the breakthrough, we could see a strong BEARISH movement downward without any retest either the trend resistance or resistance @1.7255 price level. For now, I do not see GBPCAD having enough strength to retest trend resistance level but I could see a potential short term bullish movement which could bring price level up to 1.7255, testing the resistance level before continuing its BEARISH long term movement. It will be nice to see a nice rejection off 1.7255 before entering a sell. (Also a rejection off middle bollinger band if price level rejects from resistance)

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