GBP/CAD is currently showing a clear rejection from a strong supply zone combined with a failed triangle breakout, indicating growing bearish pressure. Price attempted to push higher multiple times but sellers defended the resistance area aggressively.
The structure shows lower highs forming after rejection, suggesting the bullish momentum is weakening. With price now moving below the ascending trendline, the market is likely preparing for a bearish continuation toward lower demand zones.
If momentum increases, we could see a strong downside move toward the next psychological support levels.
GBPCAD
🔎 Technical Overview :
• Ascending triangle structure broken
• Multiple rejections from strong supply zone
• Bearish momentum building
• Lower highs forming after rejection
• Downside targets clearly defined
As long as price stays below the key supply zone, the bearish outlook remains valid.
A strong breakout above resistance could invalidate the bearish scenario.
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The structure shows lower highs forming after rejection, suggesting the bullish momentum is weakening. With price now moving below the ascending trendline, the market is likely preparing for a bearish continuation toward lower demand zones.
If momentum increases, we could see a strong downside move toward the next psychological support levels.
GBPCAD 🔎 Technical Overview :
• Ascending triangle structure broken
• Multiple rejections from strong supply zone
• Bearish momentum building
• Lower highs forming after rejection
• Downside targets clearly defined
As long as price stays below the key supply zone, the bearish outlook remains valid.
A strong breakout above resistance could invalidate the bearish scenario.
👍 Support This Analysis If you found this idea useful:
👍 Like this analysis
💬 Drop your view in the comments – Bullish or Bearish?
🔔 Follow for more high-probability setups
Your support helps grow and share valuable trading insights 🚀
⚠️ Disclaimer
This content is for educational purposes only
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Disclaimer
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Telegram Channel Link -
t.me/AM_Alpha_Trading
Contact Me @ t.me/Alphatrading_admin 📍📍
t.me/AM_Alpha_Trading
Contact Me @ t.me/Alphatrading_admin 📍📍
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.