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Gbpcadanalysis

GBP/CAD - buying opportunity with strong GBP momentumGBP/CAD has been trading within a respected weekly trend channel since Late-2019. The last touch of this trend channel was on the lower boundary with current expectations now that price will return to the upper boundary. Price has been consistently trading above the 50 and 100 DAY EMA and the posting of an extremely bullish weekly candle last week means that we are looking for long positions this week. With the current bullish momentum for the British Pound we are expecting at least a re-test of the strong resistance at 1.7718. If price holds above this level a good secondary target would be 1.8040.
Long
by TheForexFellows
GBPCAD, daily timeframe, bullish flag pattern materializedHello my friends, Another pair come to my screener and this one is one of the good pair to trade. I got some confirmations for GBPCAD to take buy position. 1st confirmation is price breaking above the bullish flag resistane 2nd confirmation is price bouncing of conversion and base line of ichimoku 3rd confirmation is ichimoku cloud is green indicating bulls are in control off this pair 4th confirmation is parabolic SAR finally moved below the price after lasting for 3 weeks above the pair I am going to add buy position to this pair, i took 1st buy position at 1.7345 from 2 weeks ago and still holding it. It never hit my stop loss so i never close it. Buy limit GBPCAD 1.7370 Stop loss 1.7200 Take profit 1 @1.7575 Take profit 2 @1.7950 RR ratio is 1 : 3.4 Risk only 1-2% equity Good luck
Long
by HayatoDragonFX
1
GBP/CAD Technical Analysis.Currently, GBP/CAD is trading at 1.7378. The pair is trading in a downward resistance and support channel. The price is moving towards its resistance level at 1.7396 and it can rebound back after touching resistance level. So, it is possible that after it rebounds from the resistance level it can touch its support level at 1.7217. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5
GBP/CAD could move UP!Hey tradomaniacs, GBP/CAD could create more bullish momentum with the break above the marked up resistance and the current correction. Keep in mind that market can be shaky due to ECB and FED Monetary Policy Meetings this week. Also look at correlations with OIL and CAD before you consider to buy. ;-) LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
4