GBPCAD Approaching Key Resistance — Will Sellers Step In?
GBPCAD is approaching a key resistance zone, a level previously met with strong selling pressure. The market has rejected this level before, indicating the presence of supply and reinforcing the potential for another move lower.If bearish confirmation follows—such as rejection wicks or strong bearish candles—this could trigger a continuation to the downside, with 1.80080 as the next key target.
However, a breakout above this resistance would invalidate the bearish bias, shifting focus toward higher levels.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.
Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments.
Best of luck , TrendDiva
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