CAD Pairs Market Analysis and Trade Setups

GBPCAD- Daily Market Review
Bias: Bearish
Technical Outlook: Bearish Descending Channel
Analysis TF: D1/4hr/1hr

Idea/Approach: On Monday, price started with a jump creating a weekly gap at the 1.8800 price level. price continued the rally to the resistance at the 1.8900-1.8920 zone.
Expecting price to return and fill up the weekly gap before the week runs out.

GBPCAD-On Tuesday, price continued the rally started on Monday and pushed to the Resistance zone at 1.8900-1.8920. This Zone acts as a confluence point between the Supply zone, Trendline resistance touch and a Key reaction Level; thus price couldn't break through but retreated from the confluence point, closing nearly below Monday's high.

GBPCAD- Yesterday, price attempted a rally back to the confluence point at the 1.8900 during the Asian session, but might a strong resistance from the bears that eventually overpowered the buyers closing the day bullish nearly below Tuesday's Low.

GBPCAD- Price continued the sells from yesterday today with intentions of filling up the weekly gap created on Monday at the 1.8800 price level which has acted as support for buyers before.

GBPCAD- Intraday Setup
Bias: Bearish
Technical Outlook: Bearish Descending Channel
Idea/Approach: A break below the intraday support level at the 1.8844 price level will flip the zone to a resistance, giving entries for sell continuations, within the 4hr bullish channel.