Long Technical Analysis for pound Bulls

GbpCad Daily Chart

Price has been ranging for most of this month between 1.6600 and 1.68400 after it had dropped down from MM3. It came off MS1 as a retest to the neckline of the Head and Shoulders.

GbpCad H4 Chart

Bulls prevailed against the descending triangle which theoretically signals a bearish continuation pattern at WS1. Price is currently at WR1 and a pull back to WM3 for another entry

GbpCad H1 Chart

Price has completed the 123 reversal pattern and a higher low at DPP would be another chance for entry.

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