GBPCAD: ⬇️ Sell
– GBPCAD reversed from resistance zone
– Likely to fall to support level 1.8230
GBPCAD recently reversed down from the resistance zone between the resistance level 1.8625 resistance trendline of the weekly up channel from 2023 and the upper weekly Bollinger Band.
The downward reversal from this resistance zone created the weekly Shooting Star candlesticks reversal pattern – which started the active wave iv.
Given the strongly bearish sterling sentiment and the overbought weekly Stochastic, GBPCAD can be expected to fall to the next support level 1.8230.
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