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GBPCAD Hits Target – Forecast for July 1, 2024

GBPCAD Price Analysis

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The GBPCAD price has recently experienced several bearish waves, successfully achieving the correctional target at 1.7270, which now serves as a strong support level. Following this, the price rebounded sharply towards 1.7310.

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With consistent stability above the current support and positive momentum observed from major indicators, there is a strong foundation for a bullish rally. Analysts anticipate a potential challenge towards 1.7345 in the near term, and a breakthrough above this level could lead to targeting the next positive level at 1.7395.

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Expected Trading Range

Market analysis suggests a trading range with support between 1.7275 and resistance at 1.7345 for the immediate trading sessions.

Trend Forecast: Bullish

The trend forecast maintains a bullish outlook for the GBPCAD pair in the near term.

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