GBP/CAD Trade Setup: Short at Daily Resistance

GBP/CAD has been in an extended move higher, breaking last week’s short setup. Now, I’m looking for a short entry on a test of daily resistance, expecting a potential pullback.

🔹 Trade Notes:
📊 The pair has rallied significantly, and price is approaching a key resistance zone where sellers may step in.
⚠️ A strong upper wick on the VIX Daily Candle suggests risk sentiment is stabilizing, which could support GBP underperformance vs. commodity currencies like CAD.

🔹 Trade Plan:
🔻 Pending Short Order: Waiting for price to test daily resistance before entry.
🎯 Target: A move lower toward the 1.806 - 1.800 zone.
🛑 Risk Management: Stop-loss above resistance; will adjust accordingly based on price action.

Guide for Execution:
✅ No Martingale: Additional orders are same size as the first, avoiding unnecessary risk.
✅ Remove Untriggered Orders: If the exit target is hit before entry, the pending order will be removed.

Will GBP/CAD finally roll over from this extended push? Watching closely for confirmation. Drop your thoughts below! 👇