The GBPCAD currency pair has shown notable strength, benefiting from positive factors such as its position within a bullish channel and sustained momentum from key technical indicators. Recently, the pair surpassed its previous high of 1.8235, reaching 1.8445, signaling a new bullish rally.
Stochastic indicators continue to fluctuate within overbought territory, suggesting that further positive momentum is likely. As a result, the pair is expected to target 1.8470 as the next resistance level, with the potential for further gains up to the bullish channel’s resistance line at 1.8600.
The anticipated trading range for today is between 1.8340 and 1.8470.
Trend Forecast: Bullish
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