Gbpcadlong
GBPCAD - Long from bullish order block ✅Hello traders!
‼️ This is my perspective on GBPCAD.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for long. I want price to make a retracement to fill that imbalance lower and then to reject from bullish order block.
Fundamental news: This week on Friday will be released monthly GDP on GBP. If the result is negative for GBP, it will support our analysis.
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#GBPCAD:LAST SETUP 200+ PIPS RUNNINGDear Fellow Traders, our last setup on GBPCAD is currently running in 220+ profit; there is chance of second buying entry.
GBPCAD outlook for next week.Here we can see GBPCAD in a bullish market. Over the last week price has left multiple footprints confirming its still following trend. Here i had a trade idea which unfortunately never got tagged in to due to volume throughout the Asian and London session. I'm keeping my eye on this pair over the next week to see how price develops but by my initial assessment i am pro for price to target the recent high.
GBPCAD - Long from bullish order block ✅Hello traders!
‼️ This is my perspective on GBPCAD.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for long. I want price to make a retracement to fill the imbalance lower and then to reject from bullish order block + institutional big figure 1.67000.
Fundamental news: On Friday will be released Unemployment Rate in Canada, as well, on Thursday we will see the result of Interest Rate on GBP, so pay attention to the results in order to validate the analysis.
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GBPCAD Canadian Recession? Not So FastI think the market understands everything better than some media reports. Canada's two-year bond yield has remained unchanged since just before the release of GDP estimates. They have outperformed on the US front end, with strong US data, including a positive surprise in the Employment Cost Index, driving higher two-year returns. This was the largest repeat increase in house prices. It's been a month since May , extending his winning streak to 6 months. U.S. consumer confidence also beat expectations, including his slightly higher inflation expectations for the year. The USD recovered after all the US data on a DXY basis, which was the main reason why the Canadian dollar fell after the combined US and Canadian data.
GBPCAD still on trendFurther interest rate hikes are likely to further worsen a struggling economy, but concerns continue to rise that the Bank of England is taking too much risk in taking action and exposing the UK economy to further inflation. There is.
On the U.S. side, investors are hoping and pleading that the Fed will move into a rate-cutting cycle sooner rather than later, but with the economy stable and downside risks limited, the Fed will continue to hold interest rates for longer periods of time. It will be maintained at a high standard.
GBPCAD Analysis H1Here is my analysis for GBPCAD on H1 using Order Block. The price could go bullish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
GBPCAD - D1\W1GBPCAD
D1\W1 - Formation of a 3-wave structure in an upward trend.
D1 - There was a breakthrough of the level of the 1st wave at a price of 1.67644, more expected price behavior, consolidation at this level and continued movement upward to the levels of 1.74192. It is also worth noting that the price can form an ABC structure and in this case we can see a continuation of the downward movement along the 4th wave on W1
What to expect now?
You can try to consider the entry from these levels to continue the movement. You can also wait for the price to fix at the level of 1.67644.
Cancel idea 1.65490 - 1.63560. If the ABC formation does not form.
Long
Targets 1.68450 - 1.70185 - 1.71710 - 1.74192
GBPCAD Long Term Selling Trading IdeaHello Traders
In This Chart GBPCAD HOURLY Forex Forecast By FOREX PLANET
today GBPCAD analysis 👆
🟢This Chart includes_ (GBPCAD market update)
🟢What is The Next Opportunity on GBPCAD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
GBPCAD Bank of Canada leaves rates on hold, sees weak growthMany indicators suggest that supply and demand in the economy are now nearing equilibrium. ”
Inflation is expected to return to the 2% target by the end of 2025, slightly behind July's mid-2025 forecast, "but energy prices and ongoing core inflation will The trajectory will rise even higher,” the central bank said.
Inflation is expected to fall to around 2.5% in the second half of 2024, and gross domestic product is expected to grow at an annual rate of 0.8% in both the third and fourth quarters of 2023. In July, the BoC expected annual growth to be 1.5% in the third quarter. .
The central bank lowered its growth forecast for 2023 to 1.2% from 1.8% in July, and the growth rate for 2024 to 0.9%, down from its previous forecast of 1.2%.
GBPCAD Long Term Selling Trading IdeaHello Traders
In This Chart GBPCAD HOURLY Forex Forecast By FOREX PLANET
today GBPCAD analysis 👆
🟢This Chart includes_ (GBPCAD market update)
🟢What is The Next Opportunity on GBPCAD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
GBPCAD The UK economy is recovering stronglyAfter increasing 1.9% month-on-month in August, the IPPI rose 0.4% month-on-month in September.
Energy and petroleum product prices rose 3.7% month-on-month in September, leading to an increase in the IPPI. Price movements for refined products were mixed. Diesel prices rose by 7.0% and gasoline prices fell by 2.3%. Crude oil, the raw material for these products, rose 9.9%. The rise in diesel fuel prices was also due to low distillate stocks in the United States and Europe. On September 21, Russia announced temporary restrictions on diesel and gasoline exports, which also contributed to the rise in global diesel prices.
GBPCAD The UK economy is gradually stabilizingA recent survey by market research firm Ipsos found that two-thirds of Canadian respondents have given up on plans to own a home. Additionally, three-quarters believe that buying a home is a privilege for the wealthy. And 71% said the real estate crisis is still ongoing.
"The dream of homeownership is becoming a nightmare for an entire generation of Canadians," said Sean Simpson, vice president at Ipsos. The Ipsos survey surveyed Canadians of all ages, including those who already own a home. Sean Simpson said the results reflect Canada's attitude that homeownership is becoming increasingly unaffordable, especially for young people.
Federal government data also suggests younger Canadians may be leaving the housing market. According to a Statistics Canada report last week, outstanding mortgage debt is
GBPCAD - Short active ✅Hello traders!
‼️ This is my perspective on GBPCAD.
Technical analysis: Here we are in a bearish market structure from higher timeframe perspective, so I am looking for short. I expect bearish price action from here as we can see that price filled the imbalance and rejected from bearish order block.
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Possible Impulse wave forming on GBPCADA possible motive (impulse) wave is forming on GBPCAD with current ascending triangle pattern hinting for a possible advance towards next supply zone. Good opportunity for optimal RR ratio trades. I'm looking forward to catch the 3rd wave.
GBPCAD Going Up | Buy opportunityHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity EURAUD
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GBPCAD Abuse of the CANADA currency but will quickly recoverThe CAD's fall reflects a bearish market bias based on the likelihood that the central bank will continue to raise interest rates: British Pound to Canadian Dollar exchange rate under pressure as Canada unleashes inflation thanks to some lower-than-expected UK payroll figures, but it recovered to trade steady on the day at 1.6617.
GBPCAD - Long active ✅Hello traders!
‼️ This is my perspective on GBPCAD.
Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for long. I expect bullish price action from here as we can see that price filled perfectly the imbalance and rejected from bullish order block.
Fundamental analysis: Tomorrow will be released monthly GDP in Canada, if the result is negative, it will support our analysis.
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GBPCAD - H4GBPCAD
Locally, you can consider buying from these levels (1.66547). The price corrects after a strong impulse, and the beginning of an ABC structure can be observed.
Local targets - 1.68600
What can you expect now?
You can consider entering from current levels or breaking through the level of 1.66547. It is better not to take increased risks. Cancellation of the idea from the level of 1.65960.
Targets 1.67040 - 1.67620 - 1.68600
GBPCADGBPCAD, our last two setups came out to be successful and we still expect prices to continue to drop further. However, as price dropped significantly without making any corrections. We now anticipating price to turn bullish for short time. It is an risky entry if you take one.
GBPCAD is expected to continue its short-term rebound.1. The GBPCAD currency pair is currently reversing its oversold conditions.
In the upcoming week, GBPCAD is expected to continue its short-term rebound, with a focus on the release of Canada's monthly labor market statistics.
It has potential for consolidation in the next five days due to oversold conditions on the daily chart.
According to Shaun Osborne, an FX strategist at Scotiabank, short-term rebounds for GBP may be limited to the mid/upper 1.65s, with major resistance seen around 1.6850/60.
Osborne suggests that a clear push above the upper 1.68s is needed for GBP to stabilize more broadly at this point.
The potential for GBPCAD to reach levels near 1.68 could depend on the performance of the Pound-Dollar exchange rate, as the Canadian Dollar closely tracks the U.S. dollar, resulting in GBPCAD retracing in line with GBP/USD.
2. There is potential for additional technical gains anticipated for this week.
From out indicator , both MA changed color from Red to Blue, in most of case, it tells us, the chart is changing from down trend to up trend/ from down trend to consolidation.
So it you have Short Positions on hand, it is the time to take profit.
On the order hand, it is the right time to establish Long Position of GBPCAD if you believe there is a technical rebounce for few days as a Swing trade strategy.
We mark three key levels of GBPCAD on daily chart for your reference.
Key Support Level is 1.6597.
Key Resistance Level are 1.6699 and 1.6870.
For us, we are running our Trading Rot for Algo trading GBPCAD and other CAD currency pairs(such as Short: CADJPY and CADCHF; Long: NZDCAD, EURCAD and USDCAD) which benefits from CAD turns to down side from Overbought.
3. The focus is expected to be on Canadian labor market statistics, which will hold significant importance.
Learning about the CAD Dollar:
Some common economic reasons that could contribute to a shift from a strong to a weak trend for a currency:
a) Interest Rate Differentials: Changes in interest rates can impact a currency's strength. If a country's central bank lowers interest rates or signals a more dovish monetary policy, it can lead to reduced demand for the currency and potentially weaken its value relative to other currencies.
b) Economic Growth and Performance: A weakening economic outlook or slower economic growth can negatively affect a currency. Factors such as declining GDP growth, rising unemployment, or weak economic indicators can contribute to a currency's weakness.
c) Trade Balance and Current Account: A persistent trade deficit or a deteriorating current account balance can put downward pressure on a currency. If a country imports more than it exports or experiences a net outflow of capital, it can lead to a weaker currency.
d) Commodity Prices: Canada is a major exporter of commodities like oil, natural gas, and metals. Fluctuations in commodity prices can have a significant impact on the Canadian dollar. A decline in commodity prices may weaken the CAD as it affects export revenues and the overall economic outlook.
e) Political and Geopolitical Factors: Political instability, changes in government, or geopolitical tensions can impact a currency's strength. Uncertainty or negative developments in these areas can undermine investor confidence and lead to a weaker currency.
It's important to note that currency trends are influenced by multiple factors, and the interplay of these factors can be complex. It's always recommended to consult up-to-date economic data and analysis to get a more accurate understanding of the specific reasons behind any recent shifts in the strength or weakness of a currency like CAD.
Thank you for your kind attention.
Good luck!
See you next update.
Time To Buy ? Oversold Move To 1.67 ??Since the close of last month, this pair has seen a sharp decline, plummeting almost 1,000 pips. Notably, for 16 consecutive days, it's registered a new low.
Given its extremely oversold conditions, and it has now entered a Daily BUY/DEMAND zone, beginning around 1.64. As a result, I anticipate a short-term upward correction, potentially reaching the Weekly resistance level of 1.67 or even higher. This point could be an opportune moment for long-term sellers to re-enter and drive prices down towards the Weekly BUY/DEMAND zone at 1.60.
I've entered a trade based on a 4-hour signal from my TRFX indicator. Check out the image below
The 15-minute charts indicate a solid support around 1.64, highlighted by today's brief dip to a new low before a rapid rebound. You can examine this here:
I am well aware that this is going against a strong downward push though given the extremely oversold conditions and the fact it is the end of the Month and end of Q3 profit taking may well allow this position to go my way.
I will be taking profit off the table as this pair moves up and stop loss is down towards 1.63 if it does breakdown again and the stop is hit I will look for another re-entry signal as this is a good R/R trade.
Hope you enjoyed the analysis
