GBPCAD is down trending due to printing LHs & LLs, and it is moving in a descending channel, recently price action seems to print a new LH as a typical counter-trend and has reached to upper down trend channel and then inner counter trend line has broken and pulled back to near it, also forming a Head and Shoulder pattern is possible.
All in all this is an short idea and it would be triggered if we could see price break local pullback trend line in lower time frames (for example H1).
All in all this is an short idea and it would be triggered if we could see price break local pullback trend line in lower time frames (for example H1).