🏹GBPCAD has been climbing within a steep bullish channel, approaching a key supply zone around 1.8750. As long as the channel holds, buyers remain in control.
However, if price rejects this supply area and breaks below the 1.8670 support, the bears could take over, potentially triggering a deeper correction.
📌Price is now at a decisive point — a breakout above supply could open the door for fresh highs, while a rejection and channel break could mark the start of a bearish phase.
⚖️ Bulls need a clean break above supply for further upside, while bears are eyeing a channel break for a reversal.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
However, if price rejects this supply area and breaks below the 1.8670 support, the bears could take over, potentially triggering a deeper correction.
📌Price is now at a decisive point — a breakout above supply could open the door for fresh highs, while a rejection and channel break could mark the start of a bearish phase.
⚖️ Bulls need a clean break above supply for further upside, while bears are eyeing a channel break for a reversal.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.