Short

GBPCAD Sell signal at the top of the Channel Up.

The GBPCAD pair has been trading within a Channel Up for more than 1 year (since September 28 2023) and since September 30 2024 has been on Lower Highs. The last time we saw such a trend-line as on the April 16 2024 Lower High, after which a strong short-term rejection took place.

We expect a similar selling sequence to take place that should be contained however above the 1D MA200 (orange trend-line). Our Target is 1.77000 (Support 1).

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