Nearly two weeks ago on July 2nd, I pointed out a massive 1,500 pip reversal pattern on the GBPCAD. The only problem is, the structure was far from confirmed. And while the pound cross is still hovering nearly 200 pips above the suspected neckline, the pending head and shoulders pattern is one step closer to completion. Why do I say that, especially when the pair has gone nowhere fast? The fact that buyers have struggled to gain traction following the late June selloff is promising for GBPCAD bears. That selloff, by the way, started with the June 22nd bearish pin bar which we discussed here. Furthermore, the longer ... (full story)