GBP/CAD has stopped falling around the 1.8330 level, which is now acting as support. From this point, the price looks like it might move higher. The target to watch is around 1.8470, which could act as a minor resistance. If the price manages to break above 1.8470, there's a stronger chance it will keep going up.
However, if the price drops below 1.8330, that could mean the market is turning bearish. In that case, the next support level to look for is around 1.8220. So overall, as long as GBP/CAD stays above 1.8330, the outlook remains positive, with a likely move toward and beyond 1.8470.
However, if the price drops below 1.8330, that could mean the market is turning bearish. In that case, the next support level to look for is around 1.8220. So overall, as long as GBP/CAD stays above 1.8330, the outlook remains positive, with a likely move toward and beyond 1.8470.
Trade closed: target reached
GBP/CAD failed to hold the 1.8330 support level and broke lower. As expected, the price dropped and reached the target at 1.8220. Sellers remain in control while below 1.8330.
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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.