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Gbp-cad

GBPCAD approaching support, potential bounce!GBPCAD is approaching our first support at 1.7056 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.7292 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
GBP/CAD short setup, short break below 1H 200 SMAThe pair is holding support at 1H 200 SMA at 1.7326, break below will see further weakness. Next major support lies at 200-DMA at 1.7122 ahead of 61.8% Fib at 1.7051. On the flipside, 5-DMA is immediate resistance at 1.7396. Break above could see further upside. Support levels - 1.7326 (1H 200 SMA), 1.7234 (38.2% Fib), 1.7122 (200-DMA) Resistance levels - 1.7396 (5-DMA), 1.7424 (1h Upper BB), 1.7526 (Jan 25 high) Watch out break below 1H 200 SMA to go short, tgt 1.7230/ 1.7130
Short
by FxWirePro
GBPCAD approaching resistance, potential drop!GBPCAD is approaching our first resistance at 1.7524 (Horizontal swing high resistance, 50%, 78.6% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 1.7055 (Horizontal swing low support, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
GBPCAD approaching resistance, potential drop! GBPCAD is approaching our first resistance at 1.7549 (100% Fibonacci extension, 50%, 78.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.7055 (61.8% Fibonacci retracement, Horizontal swing low support). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
GBPCAD sell setup!Hi, as you can see GBPCAD broke the previous top. If you look on the bigger picture we are at the top of the bigger correction. Taking the sell here is a great idea. It broke the trendline with an impulse. Don't jump in the sell right now. To confirm this big down move it has to make flag under the trendline. When it makes the flag only then i will look for big sell. It could go really deep, but not expecting to break the low. BONUS: If you look at the previous down impulse you will see what type of the flag I'm looking for! Make the bank rolls! $$$$$$$ :D P.S. If you want to see how i manage one trade at BE take a look at update on my CADJPY idea. Amazing! :) If you like what i do click that like & follow button. Likes and followers motivate me to spend my free time posting content for you! Thank you for your support! All the best, Antonio
Short
by AntonioM
GBPCAD approaching resistance, potential drop! GBPCAD is approaching our first resistance at 1.7526 (horizontal swing high resistance, 78.6% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 1.7055 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
GBPCAD approaching resistance, potential drop! GBPCAD is approaching our first resistance at 1.7495 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.7294 (100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
GBPCAD 500+ pip move potentialGBP has been dominating all week and is, imho, overextended. GBPCAD is now at a Daily Resistance level that has been rejected 3 out of the last 4 times (75%) Need to see compression on the 60 min chart below the resistance level and then a strong bearish candle for entry. Entry = not yet ??? the stop will be 10 pips (+2 for spread above the last swing high) PT = 1.6668 * both sides of this pair have news release that will effect this trade. GBP retail sales at 4:30 est.which is forecasted for -0.8 which can easily be beat and CAD CPI at 8:30 est .Please take this into consideration ** A more aggressive entry can be made if there is either multiple testing of the resistance level or a tight compression below but at it, for at least 8 hrs.
Short
by AGold54