descending triangle

on usdcad we see bearish descending triangle formation.
it is typical trend continuation pattern,
the horizontal line represents overhead demand that prevents the price from running futher.
Even if the price cannot go through this zone, the lows continue to fall indicating rising selling pressure.
The breakout of support will indicate trend continuation and will be a nice opportunity for us to sell the market.

I set stops below 1.258
Target is based on base range

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Movement down

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breakout