GBP/CAD has some room to run to the upside before meeting resistance. Bears waiting to pounce on opportunities to familiar support. The price of GBP/CAD has been caught in a long term consolidation between support and resistance n the monthly charts for many months. However, this still offers opportunity on the lower time frames and the current trajectory could be coming to an end soon. Bulls are on the path towards a weekly resistance which could lead to near term shorting opportunities on the 4HR time frame. The following is a top-down analysis of the pair that derives at the possibility of a swing trade to the downside. Monthly chart The monthly chart shows that the price has been well supported on the multiple tests. However, the supply remains strong so there is still scope for further downside tests and the wick should be filled in on the latest weekly stick. The weekly chart shows that there is an upside target to the prior support structure which is expected to turn to resistance. Daily chart From this point, there is still room to the upside from where we expect there to be a rejection and an opportunity to monitor for a downside trajectory for the 4HR time frame. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Price Analysis: Crosses short-term resistance line around mid-1.1800s FX Street 2 years GBP/CAD has some room to run to the upside before meeting resistance. Bears waiting to pounce on opportunities to familiar support. The price of GBP/CAD has been caught in a long term consolidation between support and resistance n the monthly charts for many months. However, this still offers opportunity on the lower time frames and the current trajectory could be coming to an end soon. Bulls are on the path towards a weekly resistance which could lead to near term shorting opportunities on the 4HR time frame. The following is a top-down analysis of the pair that derives at the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.