GBP/CAD maintains a bullish bias, supported by a well-established rising trend. Recent intraday movement suggests sideways consolidation, which may serve as a base for the next upward leg if key support holds.
Key Level: 1.8530
This zone marks the previous consolidation range and serves as a critical support level.
Bullish Scenario (bounce from 1.8530):
A successful retest and rebound from 1.8530 would reinforce the bullish outlook.
Upside targets include:
1.8720 – Near-term resistance
1.8760 – Previous swing high
1.8830 – Long-term resistance zone
Bearish Scenario (break below 1.8530):
A confirmed daily close below 1.8530 would weaken the bullish structure.
Potential downside support levels:
1.8490 – Initial support
1.8460 – Deeper retracement level
Conclusion
The outlook for GBP/CAD remains constructive as long as 1.8530 holds. A bullish bounce from this level could pave the way for continuation toward 1.8720 and higher. However, a daily close below 1.8530 would shift the bias to neutral-to-bearish, exposing the pair to further downside toward the 1.8460 region. Traders should closely monitor price action at 1.8530 for directional confirmation.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Level: 1.8530
This zone marks the previous consolidation range and serves as a critical support level.
Bullish Scenario (bounce from 1.8530):
A successful retest and rebound from 1.8530 would reinforce the bullish outlook.
Upside targets include:
1.8720 – Near-term resistance
1.8760 – Previous swing high
1.8830 – Long-term resistance zone
Bearish Scenario (break below 1.8530):
A confirmed daily close below 1.8530 would weaken the bullish structure.
Potential downside support levels:
1.8490 – Initial support
1.8460 – Deeper retracement level
Conclusion
The outlook for GBP/CAD remains constructive as long as 1.8530 holds. A bullish bounce from this level could pave the way for continuation toward 1.8720 and higher. However, a daily close below 1.8530 would shift the bias to neutral-to-bearish, exposing the pair to further downside toward the 1.8460 region. Traders should closely monitor price action at 1.8530 for directional confirmation.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.