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GBPCAD

GBPCAD LowerTrying GBPCAD lower here. Couple of reasons for the idea. Firstly looking at the narrative it seems to have changed in CAD favour. The GBP narrative is a little worse since the lower UK inflation data and the PMI dat this week didn't help much either. Meanwhile the CAD narrative seems pretty stable on a relatively hawkish BoC and a good economy. This along with extreme GBP longs could see the pair move lower. It also helps as it is a proxy to GBPUSD. I'm expected the fed to be a little hawkish today, while most are expecting this i think it still makes sense to go with it. Rate differentials are suggesting a little lower and oil is performing pretty well which should help CAD. We're also entering seasonals that are pretty poor for GBPUSD and so likely GBPCAD. Corporate month end is tomorrow as well which could see USD buying and so lower GBPCAD as a proxy to GBPUSD. Not trading/investment advise, feedback welcome!
Short
by Spinning_
USDCAD I It has broken the range and channelWelcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
11
Gbpcad likely more of pullback to long,bias up**Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Thank you! Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared. Thank you, and please do your due diligence before any putting on any trades!
Long
by Shadowing_The_Big_Boys
GBPCAD - 4hrs ( Buy Trade Target Range 180 PIP ) Pair Name : GBP/CAD 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— Bullish Break 1.70000 Area Reasons - Major Turn level / M - Visible Range hvn - inner Trend Break Out - Fixed Range Poc - Day / week High Break Bearish Reversal 1.72400 Area Reasons - Major Turn level / W - Fixed Range Lvn / D - Visible Range Lvn - Daily Choch Area - Fibo Golden Zone
Long
by GentleGoldenEngine
2
7 Dimension Analysis For GBPCAD 😇7 Dimension Analysis - Bullish Setup on GBP/CAD Analysis Time Frame: Daily 1: Price Structure: The market is currently exhibiting a bullish price structure, characterized by an initial Behavior of BoS (Breakout of Support). The move is impulsive, and the inducement is completed with liquidity swept internally. This is the 1st pullback in the bullish move, and the extreme order block (OB) remains unmitigated. Strong bullish momentum is evident around the demand area. 2: Patterns: 🟢TREND LINES: A horizontal support line is observed, acting as a key level of support. 🟢CHART PATTERNS: A double top pattern with an impulsive breakout and heavy volume is in place. A rectangle pattern has also broken out, with the previous resistance now becoming support. A V-shaped swing indicates a rapid recovery. 🟢CANDLE PATTERNS: A key reversal pattern has formed, signaling a potential trend reversal. A record session count of 4 candles is observed, indicating strong bullish momentum. A change in guard pattern has appeared. Momentum has failed to sustain a clear direction. 3: Volume: Volume on the breakout was not significant, but after the breakout, big volume appeared as a follow-up. Volume during the correction phase is average. 4: Momentum UNCONVENTIONAL Rsi: 🟢The Unconventional RSI is currently in a sideways zone. 🟢Divergence is evident. 🟢Confirmation is needed for a breakout above the 60 level or resistance. 5: Volatility measure Bollinger bands: 🟢Prices are taking support at the middle band, indicating its significance as a support/resistance level. 🟢A squeeze breakout occurred, going outside the upper band, and prices have already done a "Walking on the band" move, indicating bullish momentum. 🟢A headfake pattern is clearly visible at the low of the previous move. 🟢Dual band derivation suggests that confirmation may take 1 or 2 more days. 6: Strength ADX: The ADX is in a "kiss and cross" position, but the main line is above 20, indicating that bulls are still in strength. 7: Sentiment ROC: The rate of change for GBP against CAD is positive, indicating GBP strength. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: The current structure is bearish, but as 4 pullbacks are already counted, there is a high chance that the price can change structure. It is advisable to enter once the choch is done, as the low is already confirmed. ☑️ Entry Move: Impulsive ✔ Support Resistance Base: Trend line now acts as support. ➕ FIB: Activated ↕️ Trend Line Breakout: Broken. ☑️ Final Comments: Consider buying. 💡 Decision: Buy. 🚀 Entry: 1.7040 (1st option), 1.6860 (2nd option). ✋ Stop Loss: 1.6795 🎯 Take Profit: 1.7637 😊 Risk to Reward Ratio: 1:11 🕛 Expected Duration: 30 days.
Long
by Optimum369
GBPCAD Bullish forecasting the pathGBPCAD is giving us short term red recovery against the 1.6931 high. Correction is unfolding as Elliott Wave Zig Zag Pattern with (a)(b)(c) blue inner labeling. So far rally from the lows looks like 5 waves, so we expect to see another 5 waves up in (c) blue leg. Target area is marked as a Blue Box : 1.6729-1.6792 on the chart and that is our selling zone. At the marked area buyers should be ideally taking profits and sellers can appear again. Consequently, we expect to see reaction from that zone. The pair can make either decline toward new lows or larger 3 waves pull back at least. Once pull back reaches 50 Fibs against the (b) blue low, we will make short position risk free ( put SL at BE) and take partial profits. Break of 1.618 fib extension: 1.6792 would invalidated the trade. Pound to Canadian Dollar forecast by day. Date Weekday Min Max Rate 10/07 Monday 1.678 1.730 1.704 11/07 Tuesday 1.693 1.745 1.719 12/07 Wednesday 1.700 1.752 1.726 13/07 Thursday 1.699 1.751 1.725 14/07 Friday 1.699 1.751 1.725 17/07 Monday 1.710 1.762 1.736 18/07 Tuesday 1.706 1.758 1.732 19/07 Wednesday 1.699 1.751 1.725 20/07 Thursday 1.709 1.761 1.735 21/07 Friday 1.705 1.757 1.731 24/07 Monday 1.705 1.757 1.731 25/07 Tuesday 1.700 1.752 1.726 26/07 Wednesday 1.691 1.743 1.717 27/07 Thursday 1.690 1.742 1.716 28/07 Friday 1.688 1.740 1.714 31/07 Monday 1.690 1.742 1.716 01/08 Tuesday 1.693 1.745 1.719 02/08 Wednesday 1.702 1.754 1.728 03/08 Thursday 1.709 1.761 1.735 04/08 Friday 1.703 1.755 1.729 07/08 Monday 1.704 1.756 1.730 08/08 Tuesday 1.720 1.772 1.746 09/08 Wednesday 1.718 1.770 1.744 10/08 Thursday 1.712 1.764 1.738 It is a busy week ahead for the GBP to USD. The UK Labour Market Overview and the US CPI Report will set the tone in the first half of the week. On Wednesday, the BoE will release the Financial Stability Report ahead of the monthly GDP Report on Thursday. Weak GDP numbers and hawkish BoE bets would fuel recessionary jitters and test buyer appetite. The BRC Retail Sales Monitor (Tues), NIESR GDP Estimate (Thurs), and the RICS House Price Balance (Thurs) are also out. However, the markets will likely brush aside the housing sector data.
Long
by DaveBrascoFX