GBP/CAD – Double Bottom Formation & Key Resistance Retest
On the GBP/CAD 4H timeframe, the market has completed a double bottom reversal pattern, confirming a bullish structure shift after the previous downtrend. The neckline breakout has led to an upward trend with multiple Break of Structure (BOS) signals.
At the moment, price is consolidating near the resistance area around 1.8700–1.8750. A rejection from this zone could trigger a pullback toward the 1.8500 demand zone.
Pattern: Double Bottom
Resistance Area: 1.8700 – 1.8750 (Strong High)
Support Zone: 1.8500
Key Level to Watch: 1.8300 (major support)
If resistance holds, expect a short-term pullback toward 1.8500.
If price breaks above 1.8750 with momentum, bullish continuation may follow.
This area is critical for the next directional move.
This is an educational analysis, not financial advice. Always manage your risk before entering any trade
At the moment, price is consolidating near the resistance area around 1.8700–1.8750. A rejection from this zone could trigger a pullback toward the 1.8500 demand zone.
Pattern: Double Bottom
Resistance Area: 1.8700 – 1.8750 (Strong High)
Support Zone: 1.8500
Key Level to Watch: 1.8300 (major support)
If resistance holds, expect a short-term pullback toward 1.8500.
If price breaks above 1.8750 with momentum, bullish continuation may follow.
This area is critical for the next directional move.
This is an educational analysis, not financial advice. Always manage your risk before entering any trade
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