GBPCAD Head and Shoulders formed at Upper Channel Resistance

Here we have an opportunity to short GBPCAD after a confirmed break of the H&S neckline. GC has been trading within the pink channel for the past month.

On a larger timeframe, GBPCAD is also at a larger channel resistance.


If bearish momentum on GBPCAD is strong enough to break the pink channel, we should see further bearish movement to the downside