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Gbpcadforecast

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
GBPCAD H4 SHORT PRICE ACTION FORECAST If the price can close above the 200MA, it will mark the uptrend continuation. However, from a broader look at D1, the pair remains under a robust bearish bias. Closing last Friday with a strong bearish candle, we could expect the downtrend movement toward lower levels. The order: Type: sell-stop S/L: 83 pips - R:R | 1:3 - T/P: previous supply zone -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
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
GBPCAD H1 SHORT PRICE ACTION FORECAST A steadfast bearishness is under control of this pair. The seller pressure should rest before it continues the downward movement towards the previous support level. A healthy pullback for the downtrend continuation will give further confirmation, and it allows the placement of a short entry. The order: Type: sell-limit S/L: 55 pips - R:R | 1:3 - T/P: support level -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
GBPCAD - BEARISH BIASGBP - BULLISH 1️⃣ Investors dumped riskier assets and turned to safety amid renewed concerns about US-China relations after President Trump banned transactions with Chinese tech group Tencent and with the owner of TikTok ByteDance, citing a threat to national security. 2️⃣ Bank of England left monetary policy unchanged, saying Britain's economy will take more time to recover from the pandemic-induced recession than initially thought. CAD - BULLISH 1️⃣ Oil prices jumped to its highest since March amid a massive decline in crude oil inventories and hopes for a fresh US stimulus package. 2️⃣ Unemployment rate in Canada fell more than expected to 10.9% from 12.3% previous. ===== Technical ===== - We short on break on support level to become SBR level + SMA50 area. - GBPCAD in bearish zone.
Short
by MonsunAsia
GBPCAD, daily timeframe, 5th wave of Elliott Wave (2nd)Hello my friends, Previously i have analyzed GBPCAD and managed to enter exactly on the 38,2 fibonacci retracement of wave-3. I entered exactly on fibonacci 38,2 retracement because the 4th wave usually only retrace around 23,6-38,2 fibonacci retracement. For those who didn't entered GBPCAD on my 1st entry, there is a possibility to enter again here at 1.7450 Buy GBPCAD 1.7450 Stop loss 1.7300 Take profit 1 @ 1.7675 Take profit 2 @1.7875 Disclaimer: I've been buying GBPCAD from 1.7395 and still holding Good Luck
Long
by HayatoDragonFX