GBP/CAD 4H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/CAD was gradually appreciating until it touched the highest level since February 2010 on August 23 the mark that sent the pair to the pattern's support at 1.6176. The pair bounced off this important support region and jumped above its 20-bar SMA but failed to remain at this level and dropped to almost the four-hour support at 1.6260 and may continue to decline given that the pair is trading in the double top pattern is To confirm bearish outlook, GBP/CAD has to cross a bunch of four-hour support lines at 1.6260/41 and move to the daily support sitting at 1.6213 that, if overcome, will give the pair an impulse to plunge to the pattern's support at 1.6176.
© Dukascopy Bank SA
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