GBPCAD Bullish Flag continuation pattern developing

GBP/CAD maintains a bullish bias, supported by a well-established rising trend. Recent intraday movement suggests sideways consolidation, which may serve as a base for the next upward leg if key support holds.

Key Level: 1.8530
This zone marks the previous consolidation range and serves as a critical support level.

Bullish Scenario (bounce from 1.8530):

A successful retest and rebound from 1.8530 would reinforce the bullish outlook.

Upside targets include:

1.8720 – Near-term resistance

1.8760 – Previous swing high

1.8830 – Long-term resistance zone

Bearish Scenario (break below 1.8530):

A confirmed daily close below 1.8530 would weaken the bullish structure.

Potential downside support levels:

1.8490 – Initial support

1.8460 – Deeper retracement level

Conclusion
The outlook for GBP/CAD remains constructive as long as 1.8530 holds. A bullish bounce from this level could pave the way for continuation toward 1.8720 and higher. However, a daily close below 1.8530 would shift the bias to neutral-to-bearish, exposing the pair to further downside toward the 1.8460 region. Traders should closely monitor price action at 1.8530 for directional confirmation.

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