GBPCAD Bottom of structure, watch for buys

22 nov. 2021

Hello traders:

Here on GBPCAD's higher time frame outlook, we can see price is at the bottom of the overall price action.

A larger, deeper consolidation here is a good sign of a continuation development, after seeing the previous impulse phase.

Latest development here is showing a double bottoms, and some bullish reversal price action.

Watch for this inverse Head and Shoulder to develop that can confirm the bullish reversal,
then look for buy entries on the lower time frames.

Thank you

23 nov. 2021

Note

Closed down for -1% loss for now, will still look for possible entry up if price development and confirm another bullish price action.