GBP/CAD Will Likely Continue Rising

Despite forming what appeared to be a double top at the resistance at 1.7470 as well as forming a shooting star candlestick at the same resistance level on the daily time-frame GBP/CAD continued moving to the upside. The pair broke out above the aforementioned resistance and continued rising. Currently the pair is testing the resistance at 1.7540 and it will probably break out above that level. If or when that happens the pair will probably continue rising and its most likely target to the upside will be at 1.7780, which is the (MA)89 indicator on the monthly time-frame. A breakout above that level could lead to a further move to the upside towards the last high at 1.7850.