GBPCAD: Crucial moment

GBPCAD, Daily

In the Daily timeframe, GBPCAD, in a long-term bullish trend, hit a yearly high. Price is forming an ascending triangle with a divergence forming on the MFI.

• A break above the resistance at 1.8100 will open the way to 1.8400;

• However, if the price breaks the trend line below 1.7980, GBPCAD will fall to 1.7700;