GBPCAD: Expanding wedge

GBPCAD, Daily

In the Daily timeframe, GBPCAD formed an expanding wedge pattern, and the price reached the upper boundary. The price crossed the upward Bollinger line, and Stochastic confirms it was overbought.

• If the bulls push the price above the resistance at 1.8100, it will go up to 1.8400;

• A rebound from the resistance will take GBPCAD back to 1.7850;