GBPCAD, Monthly, 2011 November 05
GBPCAD, H4, 2011 November 05
GC seems in an sideway range with the explosive dynamite of a sudden movent upwards if the resitance line (Monthly ~1.65) will be broken definitely.
I would trade this currency pair the daily range 1.5950 - 1.63 (see #175) at H4, at Monday 2011 November 07 then first down ~ 1.63 with a Stop Loss above 1.6450 /1.65.
I would choose the entry (Short) at the second or the third daily candle. At the CCI(14)-Tops (see the circles "3") there had also been formed often a divergence, too.