GBPCAD: Bearish Trend Resumption Alert!

📉 GBPCAD Analysis: Potential Resumption of Bearish Trend Ahead 📉

Hey Traders! 👋

📊 I've been closely tracking GBPCAD, and it's been quite the rollercoaster lately. Here's the scoop:

🐻 After a solid bearish wave, we saw a correctional movement that brought us to a critical juncture. Recently, the price hit a major horizontal resistance cluster. But here's the kicker: instead of breaking through, GBPCAD started consolidating around this level.

🔍 Zooming in to the 4-hour timeframe, we noticed the breach of a support line within a rising wedge pattern. This could spell a return to the global bearish trend.

📉 My analysis suggests a potential downward movement, eyeing 1.7000 as the next key level.

Keep those eyes peeled on GBPCAD as we navigate these market twists and turns together! 🚀💰

Happy trading! 📉📊

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