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GBPCAD is moving in uptrend line and market has rebounded from the higher low area of the pattern
After the confirmation of the Upward movement, the GBPCAD Buy signal was given.
GBPCAD buy signal reached the take profit target successfully
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GBPCAD falling from the lower high area of the descending channel in the higher timeframe monthly chart
In the lower timeframe 1-hour chart, GBPCAD has broken the support area
GBPCAD Update:
GBPCAD is currently attempting to re-enter the box pattern, which could potentially trigger the stop-loss (SL) price. However, there is still a possibility that GBPCAD may decline from the recently breached support area. The absence of significant technical movements can be attributed to the influence of the U.K. Consumer Price Index Economic news factors, causing GBPCAD to remain within a range at the moment.
Exercise patience and await a strong signal for the next favorable trading opportunity.
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