GBPCAD: Bearish Continuation

١٦ أكتوبر ٢٠٢٠

morning, traders!

GBPCAD has reached a strong resistance cluster two days ago,
the resistance area is based on a confluence point between a horizontal 4h structure and the resistance line of a falling parallel channel.

on the hourly time frame, the price formed a double top with a lower high,
confirming the strength of the underlined yellow structure on 4H.

during US session the price has violated its minor support and now trading below.

bearish continuation looks highly probable.

goals:
1.7
1.694