GBP/CAD Price Prediction: Breaking out of Rising Wedge and falling


  • GBP/CAD is breaking out of its Rising Wedge pattern and declining. 
  • It will probably continue towards the pattern’s downside targets.  

GBP/CAD is breaking decisively out of a Rising Wedge pattern and declining quite quickly. 

GBP/CAD Daily Chart 

It has breached the 1.7871, November 6 low, indicating a probable confirmed breakout. The next target to the downside is 1.7719, the October 3 swing low. 

A break below that would probably initiate further weakness to the next target at 1.7518, the 61.8% extrapolation of the width of the Rising Wedge at its widest part extrapolated lower. This is the usual technical method for forecasting breakouts. 

GBP/CAD broke temporarily above the upper guardrail of the Rising Wedge pattern on several occasions (blue circles on chart) on September 20 and November 1. This is a sign of bullish exhaustion and an early warning of impending reversal. 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD advances to daily highs past 1.0900

EUR/USD advances to daily highs past 1.0900

Further correction in the Greenback now sends EUR/USD to the area of daily peaks in the 1.0910-1.0915 band following mixed US yields and steady concerns over a probable US economic slowdown. In the meantime, investors are expected to remain cautious ahead of the FOMC event.

EUR/USD News
GBP/USD pushes higher, retargets 1.3000

GBP/USD pushes higher, retargets 1.3000

The selling pressure in the Greenback now picks up extra pace and favours the continuation of the upside impulse in GBP/USD, which shifts its focus to the key 1.3000 threshold.

GBP/USD News
Gold consolidates around $3,000 ahead of Fed

Gold consolidates around $3,000 ahead of Fed

Gold prices has started the week on a positive tone and maintains their trade around the key $3,000 mark per troy ounce on the back of the modest pullback in the Greenback and mixed US yields across the curve,

Gold News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH, XRP gain as MicroStrategy buys $10.7 million BTC

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH, XRP gain as MicroStrategy buys $10.7 million BTC

Bitcoin (BTC) daily price chart shows signs of recovery in the largest cryptocurrency. Strategy, one of the largest corporate holders of Bitcoin, acquired another 130 BTC last week, according to an announcement on Monday. 

Read more
Five Fundamentals for the week: Fed leads central bank parade as uncertainty remains extreme

Five Fundamentals for the week: Fed leads central bank parade as uncertainty remains extreme Premium

Central bank bonanza – perhaps its is not as exciting as comments from the White House, but central banks still have sway. They have a chance to share insights about the impact of tariffs, especially when they come from the world's most powerful central bank, the Fed.  

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025