GBPCAD - Trade Plan - Short 1:4

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#GBP/CAD# GBPCAD - Trade Plan - Short 1:4

GBPCAD is almost touching its recent high and there is a noticeable bearish divergence between the price action (making higher highs) and the RSI (making lower highs), which often serves as a warning of weakening bullish momentum.

Bias Neutral to Bearish (due to RSI divergence at key resistance).
Entry Criteria Wait for a confirmed break below the support trendline or a failure to sustain the current resistance level.
Stop Loss Place above the recent swing high (beyond the 1.0 Fibonacci level) to invalidate the trade setup.
Take Profit Target the previous consolidation zones or the 0.5/0.382 Fibonacci levels as initial support objectives.

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