GBP/CAD - Intraday Breakout Setup
📈 GBP/CAD - Intraday Breakout Setup 🚀
The price is exhibiting bullish momentum, with a clear reversal signal forming near a key support level. This aligns with a positive intraday outlook, supported by recent candlestick patterns.
🔍 Key Factors Supporting the Bullish Intraday Move:
1️⃣ Candlestick Pattern:
Formation of a strong bullish candlestick near the support zone, indicating potential buying pressure.
2️⃣ Support Zone:
Price is holding above 1.8000.
Key horizontal support at 1.7980 reinforces this level.
3️⃣ Moving Average:
The price is moving closer to the 50-day MA, suggesting potential upward movement.
🚀 Upside Targets:
🎯 First Target: 1.81089 (recent resistance level).
🎯 Second Target: 1.8150 (intraday high potential).
🚨 Risk Management:
Stop Loss: Below 1.7980 to limit downside risk.
💡 Pro Tip:
Watch for volume confirmation during the breakout for stronger entry confidence.
🔔 Stay tuned for more actionable market setups!
The price is exhibiting bullish momentum, with a clear reversal signal forming near a key support level. This aligns with a positive intraday outlook, supported by recent candlestick patterns.
🔍 Key Factors Supporting the Bullish Intraday Move:
1️⃣ Candlestick Pattern:
Formation of a strong bullish candlestick near the support zone, indicating potential buying pressure.
2️⃣ Support Zone:
Price is holding above 1.8000.
Key horizontal support at 1.7980 reinforces this level.
3️⃣ Moving Average:
The price is moving closer to the 50-day MA, suggesting potential upward movement.
🚀 Upside Targets:
🎯 First Target: 1.81089 (recent resistance level).
🎯 Second Target: 1.8150 (intraday high potential).
🚨 Risk Management:
Stop Loss: Below 1.7980 to limit downside risk.
💡 Pro Tip:
Watch for volume confirmation during the breakout for stronger entry confidence.
🔔 Stay tuned for more actionable market setups!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.