GBP/CAD Technical Analysis

Key Trading Level: 1.8415

Bullish Scenario:
The overall sentiment remains bullish, supported by a breakout above the longer-term prevailing upntrend. However, recent price action suggests a sideways consolidation near the key level of 1.8415. A bullish reversal from this level could resume the upward momentum, targeting 1.8550 as the next resistance, followed by 1.8600 and 1.8650 if the rally extends.

Bearish Scenario:
A confirmed loss of the 1.8415 level and a daily close below it would negate the bullish outlook, potentially shifting momentum to the downside. If this occurs, the next support levels to watch are 1.8356, followed by 1.8330 and 1.8300, where further selling pressure could emerge.

Conclusion:
The 1.8415 level remains a key pivot point for GBP/CAD’s next move. A sustained hold and rebound from this level would reinforce the bullish trend, while a breakdown below it could trigger a deeper pullback. Traders should monitor price action around 1.8415 for confirmation of the next directional move.

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