ForceFollower

GBPCAD At Quadruple Tops

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FX:GBPCAD   Brittiska pund/Kanadensiska dollar
0
It looks like this pair is meeting a very strong resistance at the recent tops at 1.855, as it formed quadruple tops. Now it may get pressed downward and make a new low, instead of the expected by me new high. However, at the last retracement it went only as far as Ret-0.382, so it is also possible that the bulls will be strong enough to overcome that resistance and push it up to new highs. And that is actually my bet. Now I only wonder what the market's answer is going to be.

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