GBPCAD
GBP/CAD SENDS CLEAR BEARISH SIGNALS|SHORT
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GBP/CAD is making a bullish rebound on the 1D TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.692 level.
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GBPCAD Day Analysis | BUY SetupHello Traders, here is the full analysis.
I think we can soon UP from this range! GOOD LUCK! Great BUY opportunity GBPCAD
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GBP/CAD Made A Reversal Pattern , Time To Buy And Get 200 Pips !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
GBPCAD - Long IdeaThe price action has recently tapped into the liquidity resting below the previous swing low, coupled with a break of structure on the 1-hour chart, signaling the beginning of a bullish trend.
My strategy now involves waiting for an OTE (Optimal Trade Entry) retracement, coinciding with +OB on the 30-minute chart at the same level, aligning with our bullish bias.
GBP/CAD SHORT FROM RESISTANCE
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We are going short on the GBP/CAD with the target of 1.697 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GBPCAD - 4hrs ( Sell Trade Target Range 180 PIP ) 💵Pair Name : GBP/CAD
Time Frame : 4 hrs
Scale Type : Large Scale
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🔗 Key Technical / Direction ( Short ) Mid Term
Type : Mid Term Swing
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☑️Bearish Break
1.70650 Area
Reasons
- Major Turn level
- Visible Range Poc
- Pattern Break Out
- Fibo Golden Zone
- Fixed Range Poc
- Ultra Volume
- PDL + PWL
- Choch Area
☑️Bullish Reversal
1.68750 Area
Reasons
- Major Turn level
- Visible Range Hvn
- Trend Area
- Fibo Golden
- Ultra Volume
- Fixed Range lvn
- Choch Area
- PML
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours.
Key Points:
Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure.
Buy Entry: Consider entering a long position around the current price of 1.6995, which sits close to the channel breakout level. This could offer an entry point near a potential continuation of the upward move.
Target Levels: Initial bullish targets lie at the resistance levels of 1.7071 and 1.7106, marking previous resistance zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 1.6960. This helps limit potential losses if the price reverses and breaks back down.
GBPCAD Analysis(➡️RR=2.00)🏃♂️ GBPCAD is moving near 🟡 Potential Reversal Zone(PRZ) 🟡and 200_SMA(Daily) .
🌊Regarding Elliott Wave theory , GBPCAD is completing the Expanding Flat(ABC/3-3-5) corrective structure.
💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys .
🔔I expect GBPCAD to rise to at least the 🔴 Resistance zone(1.715 CAD-1.700 CAD) 🔴 after breaking the Resistance line .
British Pound/Canadian Dollar ( GBPCAD ) 4-hour time frame⏰.
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GBPCAD: Market Sentiment & Forecast
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current GBPCAD chart which, if analyzed properly, clearly points in the upward direction.
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GBPCAD, Neutral Technical OutlookGBPCAD consolidating between a support trendline and a resistance trendline. The price has repeatedly rebounded from the support trendline, forming new higher lows. The price has also repeatedly pulled back from the resistance trendline, forming new lower highs.
There are four potential outcomes for the GBPCAD pair:
1. Rebound
If the price rebounds from the support trendline, it could move up to the resistance trendline. This would be a bullish outcome.
2. Pullback
If the price pulls back from the resistance trendline, it could move down to the support trendline. This would be a bearish outcome.
3. Breakout above resistance
If the price breaks out above the resistance trendline, it could move up to the next level of resistance. This would be a very bullish outcome.
4. Breakout below support
If the price breaks out below the support trendline, it could move down to the next level of support. This would be a very bearish outcome.
Overall, the technical outlook for the GBPCAD pair is neutral. The price is consolidating between a support trendline and a resistance trendline. There are four potential outcomes for the pair: a rebound, a pullback, a breakout above resistance, or a breakout below support.
GBPCAD Will Grow! Buy!
Take a look at our analysis for GBPCAD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.700.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.702 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPCAD SHORTSGBPCAD since the beginning of the week have been moving bearish and in respect to this, I plan to stick to the trend, the daily and the weekly also shows the bearish trend, and to follow this I expect this pair to retrace to the 50 Exponential moving average and we short to the 800 Exponential moving average.
GBPCAD#GBPCAD - H1
📣 Upon reviewing the 1-hour timeframe, with the break of the resistance level in the range of 1.7063, it is possible to initiate a buy position with a target of 1.7150.
⛔ Stop loss: 1.6980
On the other hand, with the break of the 1.6980 range, there is a bullish outlook for a price decline towards the 1.6900 range.
⛔ Stop loss: 1.7063
GBPCAD could go up to 1.7138 after the BOEGBPCAD has started to show upward strength after bouncing at the 1.70 level, where a demand zone is located. The price underwent a significant structural change on the M15 timeframe yesterday, presenting a trading opportunity that could have yielded a 1% profit before the release of Canadian data. Personally, I did not execute that trade. Currently, it appears to be resuming its trajectory towards the higher swing point, where there is liquidity to fill at the 1.7138 level. Today, the BOE interest rates are expected, so pay attention to potential entries during the London session and possible spikes during the rate announcement. Personally, I would consider an entry, provided the conditions are met, after the rate announcement to have a more comprehensive view of the chart and macroeconomic factors. Naturally, I will assess a structural change to the upside on the M15 to confirm my long-term bullish outlook. Greetings and happy trading to everyone.
GBPCADGBPCAD price is in a correction range. The price has an opportunity to test the resistance 1.70880 if the price cannot break through this resistance. It is expected that there is a chance that in the short term the price will go down. Consider selling in the red zone.
>>GooD Luck 😊
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