GBPCAD: Indecision & Two Scenarios Explained (Indecision)
GBPCAD is approaching an important daily resistance cluster.
Depending on the market reaction to that structure I see two potential scenarios:
In case of a daily violation (daily candle close above) of a yellow zone,
I will expect a bullish continuation to 1.75 level.
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!