GBPCAD is approaching an important daily resistance cluster. Depending on the market reaction to that structure I see two potential scenarios:
Bullish In case of a daily violation (daily candle close above) of a yellow zone, I will expect a bullish continuation to 1.75 level.
Bearish In case of a bearish breakout of a rising parallel channel on 4H, a pullback will be expected to 1.72 (note that if the price will go above the underlined yellow resistance, the setup will be invalid)
Wait for the needed breakout & follow the market!
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