The GBPCAD has resumed its bullish correction, recently surpassing the 1.8110 barrier. This move formed a double bottom pattern, reinforcing the continuation of the bullish trend for the time being. As a result, the pair has achieved additional gains, reaching the 1.8215 level.
With positive momentum from the stochastic indicator, the probability of further bullish moves remains strong. The next targets are the 1.8280 level, followed by a potential test of the bullish channel’s resistance at 1.8320.
Expected Trading Range for Today:
- Support: 1.8140
- Resistance: 1.8280
Trend Forecast: Bullish
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