GBPCAD, Short-Term Bullish, Long-Term Bear-Flag!

Hello,

Welcome to this analysis about GBPCAD, we are looking at the 2-hour timeframe perspectives. GBPCAD is in a condition where it is showing different signs of developments and therefore has diverging perspectives in expectation. In this case, as when looking at my chart we can watch there how GBPCAD is within this main channel-formation with the coherent wave-count within this channel and the waves A and B already completed, now in the next times the wave C will emerge from here which will run directly into this main resistance-cluster where several resistances coming together and therefore has a high likelihood given to emerge with a bearish pullback to the downside which should be expected. Once this pullback has emerged GBPCAD when moving further with the bearish pressure will complete the whole formation as a bear-flag once a breakout to the downside has happened as it is shown in my chart, such a bearish breakout will activate further continuations to the downside and the two targets seen in my chart, when GBPCAD has reached these zones a reversal can be possible however mainly the bearish perspectives are pivotal and should be expected, it will be an important development ahead.

In this manner, thank you for watching my analysis about POLKADOT and the major ascending-channel-formation, support the analysis with a like and follow or comment for more market insight!
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Comment:

ANALYSIS UPDATE: GBPCAD continued with the bear-flag formation completion to pullback massively bearishly off the upper resistance-cluster.

GBPCAD since it pulled back bearishly within the flag formation, formed the breakout and reached all of the target zones.