The current GBP/CAD exchange rate indicates a favorable buying opportunity, situated at 1.71814. This suggests that for those looking to capitalize on this currency pair, it may be an opportune moment to enter the market. Setting specific profit targets can help maximize gains, with potential exit points identified at 1.71500, 1.71408, and 1.71200. These levels...
GBPCAD has reversed after reaching a resistance zone and forming a bearish head and shoulders pattern, potentially driving the price further downward towards the targets indicated on the chart. Please note that this is merely a trading idea and not a signal. It could either succeed or fail, so I encourage you to conduct your own research and analysis before...
Below are the confluence factors spotted for a potential bearish swing movement. 1. VOLUME: Strong bearish breakout of the rising trendline on the 19th April 2024. 2. DOUBLE TOP: A retest of previously broken Double top neckline. 3. CANDLESTICK: The formation of bearish pin-bar on Thursday 25th, April 2024. 4. TRENDLINE: Sharp bearish rejection at the retest of...
📉 GBPCAD Analysis: Potential Resumption of Bearish Trend Ahead 📉 Hey Traders! 👋 📊 I've been closely tracking GBPCAD, and it's been quite the rollercoaster lately. Here's the scoop: 🐻 After a solid bearish wave, we saw a correctional movement that brought us to a critical juncture. Recently, the price hit a major horizontal resistance cluster. But here's the...
🚨 Attention Traders: GBPCAD's Signature Dance Continues into Next Week! 📈📉 Hey there, trading enthusiasts! 🎉 I've got some exciting news for you all regarding GBPCAD, the dynamic duo of the British Pound and the Canadian Dollar. It seems like they're sticking to their signature moves, and I'm here to break it down for you. 💃💼 Picture this: GBPCAD has been...
We can see strong bullish move here and also flag chart pattern formation. Price has reached potential bearish zone 1.71600, so I expect to see move down. I also marked here potential bullish zone 1.70000.
GBPCAD - A Bearish Technical Perspective With the current data GBPCAD is showing for a possible bearish opportunity The price looks like completed a 5 wave pattern and if this is the end of the wave then it should be followed by a bearish correction soon. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or...
The Canadian Dollar is loosing steam, for some reason is losing value across the board. Maybe bc oil apparently has peaked and now is turning over. I opened a long position last week on NZD/CAD but I think this pair looks better, EUR/CAD looks good too, even USD/CAD. It could take a few more weeks to break out. Keep adding at every pull back. CAD is the new Yen....
GBPCAD is in bearish trend with no RSI divergence at bottom , testing 0.618 fib retracement sell on CMP with risk define previous highs
GBPCAD is trading in a long-term bearish trend. After the last bearish wave, we see a correctional movement on a daily. The price reached a key horizontal resistance cluster. After the test of the underlined blue area, the pair started to consolidate on a 4H time frame and then it broke a support line of a rising wedge pattern. It may indicate that the market...
The Pound Sterling's recovery has encountered a standstill amidst robust speculation regarding early rate cuts by the Bank of England (BoE). Concurrently, the GBP/CAD pair, after establishing a bottom within its channel around 1.68880, initiated a pronounced bullish surge, propelled by a convergence of technical and seasonal indicators. Technically, the price...
OANDA:GBPCAD We have a valid harmonic pattern, which, if materializes, could bring the pair down as low as 1.6950.
Possible Setup. Higher TF is bearish based on price action. Market reacting to fib area + 4HR reversal pattern. Let's see if the sellers are in for the downside
GBPCAD is in a bullish trend according to DOW Theory making higher highs and higher lows. The trend is also respecting the trendline which furthur validate the uptrend. There is no divergence on RSI as of yet to conclude a trend reversal. Additionally, the next resistance level is around TP1 so we can see a move towards TP1 if it breaks the previous High. After...
My confluences have triggered Short for the rest of this week What are your thoughts? Trade safely my friends
The GBPCAD broke through a significant horizontal resistance and closed above it. This sets the stage for a potential uptrend continuation. The next resistance level to watch is at 1.7216.
Hello,Traders! GBP-CAD went up and The pair is locally overbought So as the pair is approaching A horizontal resistance of 1.7236 A bearish reaction is To be expected Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
GBPCAD has breached the uptrend line and is presently undergoing testing. We anticipate rejection and anticipate a substantial downward movement in the near term. However, it's essential to exercise caution and trade responsibly, adhering to our identified risk management principles. Be sure to review our previous analyses for additional context.