GBPCAD might give sellers a big surprise

Hi Traders,

Today USDCAD made a new yearly high above 3352 and trend line on RSI there is also breaking which indicates more upside is to come. However, I prefer to sell CAD against other currencies too and one of them is GBPCAD.
I am buying GBPCAD here with Stop loss bellow today's low and TP at 78,6% fib around 2.0750, a Risk/Reward bigger than 3/1.
Also on this GBPCAD 4hr, we can see that RSI trend line is also breaking here AND I know alot of traders that are saying that we have a Head & Shoulders here BUT that formation ONLY comes into play when he breaks the neck line, which still did not!
A big up move here can stop out many sellers!

Good luck to us!

Thiago Duarte
ThiagoTrader
[e-mail]