Buy GBPCAD Channel Breakout

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The GBP/CAD pair on the M30 timeframe presents a potentially interesting situation with a bullish channel breakout pattern.

Potential Long Trade :

Entry: Above the broken resistance line of the channel, ideally around 1.7175 after confirmation.

Target Levels:
1.7244: This represents the height of the channel, measured from the apex (highest point) to the base (opposite trendline), projected upwards from the breakout point.
1.7272: This is a further extension of the upside target, based on the height of the recent price movement.

Stop-Loss: Place a stop-loss order below the broken resistance line of the channel, ideally around 1.7145. This helps limit potential losses if the price fails to break out and reverses downwards.

Thank you

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