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GBPCAD Consolidation to Reignite Larger Reversal Pattern
Aside from the erratic price action that ensued from last month’s Brexit, GBPCAD has been carving out some excellent levels and patterns over the last two months. For those who were around last month, you may remember the June 3rd break below trend line support. That particular setup provided us with a gain of 740 pips. Then there was the post-Brexit selloff that cracked the seventeen-month head and shoulders pattern. Although the price action following the event was far too volatile to trade, the pair did respect the broken neckline at 1.8130 as new resistance on a 4-hour closing basis. Here’s that weekly head ... (full story)