The Canadian pound and expectations of the formation of a head and shoulders  

The Canadian pound pair rose during today's trading on Thursday after yesterday's closures due to holidays, and Canadian and British banks are still off for the day as well.

At the technical level: - the Canadian pound pair is trying to form a head and shoulders model, waiting for the completion of the right shoulder and breaking the neckline down.

If the levels of 1.7960 are broken down and the lowest candle closes at least 4 hours, the pair is a candidate for further pullbacks towards the levels of 1.7840 and then 1.7780.

The scenario fails if the 1.8000 levels break back up.