GBP/CAD pennant formation occured.

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Paun British / Dolar Kanada (OANDA:GBPCAD)

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OANDA:GBPCAD Paun British / Dolar Kanada

gbpcad pennant stoploss priceaction support

This looks like a pennant formation as there were 2 wicks that were acting as support and momentum of the current movement is decreasing as well.

Place stop loss below nearest support line and price will be taken at the next resistance.

Komen:

Update:

This should say long not short sorry about that but however it could go either way due to the double top formed but lets see how it runs out when the market opens.

Penafian

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