-
GBPCAD Breaks Consolidation, Targets 1.6600
GBPCAD sellers came through in a big way on Thursday. I’ve written about this ascending channel pattern a couple times in recent weeks. Be sure to see my June 4th commentary if you missed it. Ironically, the GBPCAD broke channel support on the same day I published that post. If you look closely, you’ll notice that every attempt to climb back above former channel support since June 4th has failed. I pointed this out to Daily Price Action members yesterday. I also wrote about the 1.6980 horizontal level this week. You can see how this level attracted buyers back in February and did so again more recently in May. ... (full story)