GBPCAD Poised for a breakout to the above?

A diverging wedge to the downside gives potential for a long trade on GBPCAD. If the resistance break above 1.87555 can be achieved then potentially this will break to the upside with further evidence to break out of this wedge and to resume a nice bull trend.

My suggestion is to wait for the 20/03/15-12:30 CAD (GMT) economic news event and place a long trade at 1.87560. a nice Risk to Reward ratio could be played here