GBPCAD - Bearish Bias with a possible Double Top

PAIR IN FOCUS: GBPCAD
ACTION: SHORT
HORIZON: SHORT-TERM

Although I am not fond of spotting double top patterns which are not at peaks, GBPCAD current movement could be profitable as a double top pattern. Price action provides a short opportunity with a bearish engulfing candle, having TP levels at support/resistance levels. We can also look out for bullish price action at the support/resistance levels after the downward movement.
Should we see a melt down through TP 2, we can look for a retrace and retest of that level before another bearish leg.

The TP levels and Stop loss have been indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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