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GBPCAD

GBPCAD I How to trade it following BOC Rate ReportWelcome back! Let me know your thoughts in the comments! ** GBPCAD 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
1
GBP/CAD: Price Breaks Support, Eyes 1.6600 Area as Next TargetYesterday, the GBP/CAD experienced a notable decline, reaching a daily low of 1.6725 as the week drew to a close. This downward movement was primarily driven by robust labor market data from the United States, which hinted at the possibility of the Federal Reserve (Fed) reevaluating its stance on further interest rate hikes. Meanwhile, the British Pound continued to face selling pressure, despite the absence of any significant economic events on the British calendar. The GBP/CAD currency pair is currently following a bearish trajectory within a bearish channel. The drop observed yesterday resulted in a break of the dynamic trendline, which had previously acted as a support and allowed the price to rise consistently over time. This breakdown suggests a shift towards a bearish outlook. Furthermore, the price action is forming an AB=CD pattern, indicating a potential continuation of the downward trend. The maximum extension point of the D leg aligns with the 1.618% Fibonacci level, serving as the next target for the price around the 1.6600 area, where a support level is present. Consequently, we anticipate further short-term downward movement within the bearish channel. In summary, the GBP/CAD experienced a decline yesterday, reaching a daily low of 1.6725. This was influenced by strong labor market data from the US, potentially prompting the Fed to reconsider rate hikes. The British Pound faced selling pressure, despite the absence of notable economic events. The currency pair is currently following a bearish channel, with the recent breakdown of the dynamic trendline suggesting a bearish outlook. The price action indicates the formation of an AB=CD pattern, with the next target located around the 1.6600 area, where a support level exists. As a result, we expect a continuation of the short-term bearish movement within the channel.
by FOREXN1
30
GBPCAD - 4hrs ( buy Trade Target Range 200 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 After Retest ) Type : Mid Term Swing ——————————— 🔰Bullish Break 1.68700 Area Reasons - Major Turn level / D - Counter Break - Fixed Range Poc - Visible Range Hvn / Poc 🔰Bearish Reversal 1.70650 Area Reasons - Major Turn level / D - Visible Range lvn - Month High - Pattern Target - Fibo Golden
Long
by GoldenEngine
1
GBP/CAD Technical Analysis! SELL! My dear followers , This is my opinion on the GBP/CAD next move: The market is trading on 1.67943 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 1.67014 Recommended Stop Loss - 1.68469 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
GBPCADHello dear Traders or Investors Price has been in this nice upwards trend for a while now. We've seen price create higher highs and higher lows whilst also respecting an upwards trendline. We recently broke past a maior level of resistance and we're now coming back to this area to retest it for support and we expect that this level will hold and buyers will step in. We've got other confluences factors as well which all line up and agree with our idea, like the 61.8% fib level touch which we expect buyers to be sat at wanting to hold and push price higher. We've also got the upwards trendline which has been respected multiple times before and has shown us that buyers are sat at this area wanting to push price up, so we expect that
Long
by Izhar_Khan12
GBPCAD ____ BE PATIENT WITH THE MARKETHello Traders, So I had taken a long on this pair but I was stopped out at breakeven. However, my bullish bias has not changed because the price is trading in a weekly and daily demand zone and we still have the obvious buy-side liquidity to sweep. If you look at my chart you will notice that price just created a sell-side liquidity pool (relative equal lows) and as usual, one can expect the price to go ahead to sweep this liquidity. One piece of advice I will give you guys is: whenever you want to take a trade, always look for where the liquidity pool/trap. This would help you escape being liquidated. Right now, I am waiting for the price to sweep the sell-side liquidity and form a bullish setup so I can take a trade. I will insert below my analysis on the trade that stopped me at breakeven Follow me for more updates and insights. PREVIOUS GBPCAD ANALYSIS Cheers, David
Long
by jabariofafrica
2