GBP/CAD Rejection at Supply → Next Stop: 1.8350

[cryptohog]

GBP/CAD Analysis – Rising Wedge Breakdown in Motion

GBP/CAD has broken down from a Rising Wedge formation, signaling a potential bearish continuation. Price rejected strongly from the Key Zone (≈1.8550–1.8580), followed by a break + retest of the supporting trendline.

If downside pressure holds, we may see price move toward the Key Zone near 1.8350 (psychological level).

Technical Insights
Rising Wedge breakdown confirms bearish structure
Retest of support-turned-resistance
Momentum shifting lower
Downside target → 1.8350 (Key Zone)

A clean continuation move could unfold if sellers sustain control below current structure.

Fundamental Outlook
• The Bank of Canada (BoC) remains cautious as inflation pressures ease, reducing expectations for aggressive tightening…supportive for CAD strength.
• The Bank of England (BoE) faces slower growth and uncertain monetary outlook, limiting GBP momentum.
• Softer UK business activity + Canada’s stable macro backdrop may help fuel further decline.

Overall fundamentals reinforce bearish sentiment on GBP/CAD.

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[EmTeam]

Perfect rejection candle — 1.8350 looks like a logical target zone.

[alex10]

Trend exhaustion visible on H4; clean short setup forming.