GBPCAD – Bullish Breakout SetupGBP/CADOANDA:GBPCADPrivateWealthPresidentSummary: Price on GBPCAD (1D) is currently trading within a well-defined descending channel, but a potential inverse head and shoulders pattern has formed at the lower boundary—suggesting a shift in momentum. The neckline aligns with a key resistance zone around 1.8450–1.8500. Price is now retesting this area after forming the right shoulder, indicating a possible breakout attempt. A confirmed break and hold above this neckline could trigger bullish continuation toward the upper boundary of the channel. The confluence of: - Inverse head & shoulders structure - Retest of neckline resistance - Ascending trend-line support adds weight to the bullish bias. However, price is still technically within the broader descending channel, so confirmation is key. A rejection from this zone could lead to another move lower before any significant breakout. Bias: Bullish above neckline resistance, targeting channel highs. Bearish scenario remains valid if price fails to break and hold above resistance.