📉 Bearish Outlook on GBP/CAD – Here’s Why I’m Shorting! 📉
🔎 Fundamental Analysis: CAD Strength Incoming?
1️⃣ Canada’s Economic Data Shows Mixed Signals
Strong Ivey PMI (55.3 vs. 49.2 forecast) ✅
Weak employment numbers (-19.7k full-time jobs) ❌
25% U.S. tariffs on Canada → CAD at risk, but sentiment still holds.
2️⃣ GBP Faces Headwinds
BOE’s Dovish Stance keeps rate cut expectations on the table.
UK economic growth concerns limiting GBP upside.
3️⃣ Risk Sentiment Supporting CAD
If oil prices stabilize, CAD could gain further.
Markets adjusting to trade war concerns—watch USD/CAD for clues!
📊 Technical Breakdown – GBP/CAD Short Setup
🔹 Price Rejected from Key Resistance near 1.7250-1.7300
🔹 Bearish Engulfing Candle forming on H1/H4 timeframe
🔹 50 SMA Crossing Below 200 SMA = Bearish Momentum Confirmed! 🔥
🔹 RSI Showing Bearish Divergence → Momentum weakening!
🎯 Target Zones for the Short: ✅ TP1: 1.7100 (Key support level)
✅ TP2: 1.7000 (Major psychological level)
🚨 SL: 1.7350 (Above recent highs)
🔎 Fundamental Analysis: CAD Strength Incoming?
1️⃣ Canada’s Economic Data Shows Mixed Signals
Strong Ivey PMI (55.3 vs. 49.2 forecast) ✅
Weak employment numbers (-19.7k full-time jobs) ❌
25% U.S. tariffs on Canada → CAD at risk, but sentiment still holds.
2️⃣ GBP Faces Headwinds
BOE’s Dovish Stance keeps rate cut expectations on the table.
UK economic growth concerns limiting GBP upside.
3️⃣ Risk Sentiment Supporting CAD
If oil prices stabilize, CAD could gain further.
Markets adjusting to trade war concerns—watch USD/CAD for clues!
📊 Technical Breakdown – GBP/CAD Short Setup
🔹 Price Rejected from Key Resistance near 1.7250-1.7300
🔹 Bearish Engulfing Candle forming on H1/H4 timeframe
🔹 50 SMA Crossing Below 200 SMA = Bearish Momentum Confirmed! 🔥
🔹 RSI Showing Bearish Divergence → Momentum weakening!
🎯 Target Zones for the Short: ✅ TP1: 1.7100 (Key support level)
✅ TP2: 1.7000 (Major psychological level)
🚨 SL: 1.7350 (Above recent highs)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.