GBPCAD → Retest the area of interest before growth

GBPCAD is closing the imbalance area as part of a countertrend correction and consolidating below the 0.5 Fibonacci level. What's next, growth or decline?



The global trend is upward, and the situation is classic: the market needs energy and liquidity to continue growing.
Locally, we see that as part of a countertrend correction, the market is closing the imbalance area, but at the same time forming consolidation below 0.5 Fibonacci, still leaving the zone of interest and order block below 1.84600 untouched.

Technically, there is a fairly high probability of continued growth, provided that the price ends its consolidation with a breakout of the 1.85690 resistance and consolidates above 0.5 Fibonacci.

Resistance levels: 1.85690, 1.8657
Support levels: 1.84986, 1.846, 1.8417

However, as an additional and, in my opinion, the most important scenario, I still consider a complete closure of the fvg and a retest of the 0.7-0.79 zone, within which the order block is located. A false breakdown of the zone of interest and the capture of liquidity could attract additional interest, which would trigger growth.

Best regards, R. Linda!