A SurpriseBox near the 50 sma was formed on the Gbp/Cad weekly chart. This box broke to the downside two weeks ago with a bearish engulfing pattern. A target of near 1.55 corresponding to a recent low. Stop is near the 1.60 area.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
