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!
