GBPCAD at Key Resistance: Potential Selling Opportunity to 1.789
GBPCAD is trading near a robust resistance zone that aligns with prior price rejections. This area has previously attracted strong selling interest, making it a critical point to watch.If bearish confirmation appears, such as strong upper wicks or bearish candlestick patterns, I anticipate a move toward 1.78900. But a break above this level could signal further upside and invalidate the bearish setup.
-Carefully evaluate price action at this zone before entering positions.
-Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
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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.