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British Pound / Canadian Dollar
Short
Updated

GBPCAD at Key Resistance Zone: Potential Sell Setup

GBPCAD has reached a key resistance zone. The market structure suggests a possible reversal as buyers may face exhaustion. If the price shows rejection through bearish patterns or wicks, I expect a move down toward the 1.78455 level. However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and could open the door for further upside. Traders should monitor price action closely at this critical resistance area.

This setup signals a potential correction after the bullish trend. Wait for confirmation before entering short positions.
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DanieIM
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DanieIM

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