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GBPCAD Breaks And Holds Above 1.6988

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Since this breakout occurred just before last week's close, I am going to keep an eye on it a bit longer since the open tends to be a bit unpredictable.

1. This is a great fakeout signal. Price attempted to trade lower and then sharply reversed. Not only that, it took out the 1.6988 upper boundary that I had plotted.

2. Price traded back to the breakout level. I'm surprised to see such a clean hold. However, I do have a concern that price may drift back below this level during this week's open.

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