GBP/CAD Chart Analysis - 1H Timeframe
🔹 Overall Trend: The price is moving within a descending channel (marked in pink).
🔹 Potential Resistance: The yellow-marked zone around 1.85991 - 1.86099, where a bearish reaction is expected.
🔹 Initial Support: The 1.84663 level (blue line), which may act as a temporary bounce point.
🔹 Final Target: The highlighted brown zone around 1.82733 - 1.82275, indicating a possible deeper decline.
📉 The projected price movement (blue arrows) suggests a potential upward correction to resistance before continuing the downtrend.
🔹 Overall Trend: The price is moving within a descending channel (marked in pink).
🔹 Potential Resistance: The yellow-marked zone around 1.85991 - 1.86099, where a bearish reaction is expected.
🔹 Initial Support: The 1.84663 level (blue line), which may act as a temporary bounce point.
🔹 Final Target: The highlighted brown zone around 1.82733 - 1.82275, indicating a possible deeper decline.
📉 The projected price movement (blue arrows) suggests a potential upward correction to resistance before continuing the downtrend.
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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.