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Gbpcadanlysis

GBPCAD continuation of a developing down trendPrice action on this pair is very similar to what I see in AUDNZD, I have already posted about that (see link attached). Here too I am expecting a small retracement, either to the nearest resistance (1.7330) or the 50-61.80% retracement area. I will be monitoring PA if this happens on a lower t/f to find some bearish evidence. Target can be above the next support as shown on my chart. This is not a trade recommendation, it is just my analysis. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Anything can happen in the markets at any time. Please use sound money and risk management if/when you trade. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
Short
by Trading_Vista
GbpCad could drop from resistance (1k pips potential)Since the bottom just above 1.4 in September, GbpCad has risen strongly, gaining around 2.8k pips. At this moment, however, the pair is facing a very strong resistance zone, a zone that acted as support for more than 3 years till the break under it in this year's spring. I expect this zone to hold and cap gains for the pair in the future and if this holds true, GbpCad could roll back down to under 1.6 support. Last week's candle is a reversal one and traders could look for selling opportunities against its high. As I said, the target could be set at 1.58 support and a good sell entry can have a 1k pips reward
Short
by Mihai_Iacob
2
GBPCAD | WEEKLY PERSPECTIVEWith over 170pips in our direction since my last publication (see link below for reference purpose), the British Pound appears to begin a new wave of Bullish run as it completes a 50% retracement at Demand zone (neckline) since Breakout occurred at the beginning of the month (July 2020). Tendency: Uptrend ( Bullish ) Structure: Double Bottom | Correction Observation: i. A correction into the neckline (Demand zone @ 1.69500) of my Double Bottom incites a possible uptrend continuation in the following week as price makes new Support.. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:2.5 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry