GBPCAD is rebounding from the bottom of its support zone, forming a rounded recovery toward a confluence of resistance levels near 1.8507. Price is nearing the intersection of a downtrend line and a horizontal key level, creating a high-risk rejection zone. A failure to break above this confluence could initiate a bearish swing toward 1.8430 or lower.📈 Key Levels
- Buy zone: 1.8430–1.8460
- Sell trigger: bearish rejection at 1.8507
- Target: 1.8305
- Buy trigger: strong close above 1.8576
💡 Risks
- Breaking 1.8507 could lead to extended upside
- Economic news or CAD volatility may disrupt pattern
- Price may stall in the resistance cluster before choosing direction
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.