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Gbpcadlong

GBPCAD Long Term BUYING 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
Long
by ForexPlanet20
GBPCAD Long Term SELLING Trading IdeaAug 20 Hello Traders In This Chart GBPAUD HOURLY Forex Forecast By FOREX PLANET today GBPAUD analysis 👆 🟢This Chart includes_ (GBPAUD market update) 🟢What is The Next Opportunity on GBPAUD 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
Long
by ForexPlanet20
GBPCAD - The GBP Is Unstoppable!Analysis: This is another setup that we see involving the GBP and this is pretty much the same as our GBPUSD setup. Firstly looking at price it's clear to see that we're in an upwards trend. We're forming higher highs and higher lows. We also have an upwards trendline which is being respected giving us even more confluence that we're in a strong upwards trend. Price formed this pullback last week which was expected, however we've now pulled back to an area that interests us and an area where we expect to see bullish momentum form. At this level we have a previous area of resistance. As we know resistance often becomes support once broken so this to us looks like a possible area of support. We have more confluences however which line up with our area making it not just a possible area of support but instead a strong area of support. At this level we have the 61.8% fib retracement level. This is often classed as the strongest fib retracement level meaning that we should see buyers step in and push price higher, going in favour of our idea. Another confluence that we have is the upwards trendline. When this trendline has been touched in the past we've see it be respected then the buyers step in and push price higher. History often repeats itself especially in trading so we expect this to happen. Again going in favour of our bullish thesis. The final technical confluence that we have is the slowing bearish momentum. On Friday last week we saw some bullish momentum step in and take control of the market, which is a strong sign to us that we could be seeing price reverse and continue its move to the upside. This morning we had some news that was negative for the GBP, however this move that we got, in our opinion was an over reaction and we expect to see price continue with the bullish momentum we saw come into the markets at the end of last week. We don't just have the technicals on our side but we also have the fundamentals. Currently the GBP is the 2nd strongest major currency whereas the CAD is the 4th strongest major currency giving us even more reason to be long on this pair. That's not the end of it though. As of the most recent COT report we saw an increase of 18K short positions and an increase of 24K long positions on the GBP, which is bullish. For the CAD however we have a different story. We saw an increase of 3K short positions, whilst seeing a decrease of 1K long positions. This is bearish for the CAD. Both the fundamentals and the technicals favour being long on this pair which is why we have a bullish bias. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
18
GBPCAD Bullish Trend continuationThe Canadian dollar fell past the 1.34 per USD level, an over two-month low, as the greenback remains strong amid bets the Fed will need to keep interest rates elevated for longer. At the same time, oil prices fell from recent highs and Canada posted the largest trade deficit since November 2020, highlighting the extent of net outflows of the domestic currency from the economy, and pressuring the Loonie. On the other hand, annual inflation rate in Canada rose more than expected in July and the core rate failed to slow as anticipated, keeping a range of possibilities open for the Bank of Canada, as the bank considers the need for another rate hike in September. So from my side of view Cad will remain weak..... looking at my analysis on GBPCAD we had a breakout of 1.71262 Level and a retest so we might continue buying the dip until 1.73236 which will be my TP.
Long
by Ice_TeaBag
GBPCAD - Long from discount zone ✅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 from discount zone. I want price to continue the retracement and then to reject from bullish order block + institutional big figure 1.70000. Fundamental analysis: On Friday will be released monthly GDP on GBP, which was forecasted to increase, this means strength of currency, which will support our analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
2
GBPCAD Long BullishThe GBPCAD long bullish idea is supported by two key technical indicators: breakout and bullish divergence. Breakout: The GBPCAD currency pair has experienced a breakout above a significant resistance level. This breakout suggests a potential upward movement in the pair, indicating a shift in momentum in favor of the bulls. Traders often interpret breakouts as a signal for potential buying opportunities. Bullish Divergence: In addition to the breakout, there is a presence of bullish divergence in the price action. This occurs when the price makes lower lows, but the corresponding indicator (such as RSI or MACD) makes higher lows. It indicates that the selling pressure is weakening, and a bullish reversal might be on the horizon. Combining these two technical signals, traders might consider taking a long position on the GBPCAD currency pair, anticipating further upward movement in the exchange rate. However, it is essential to perform further analysis and risk management before executing any trades. Traders should also be aware of potential risks, such as unforeseen market events or changes in economic fundamentals that could impact the currency pair's direction. As with any trading idea, it is crucial to consider your own trading strategy and risk tolerance before making any decisions.
Long
by MAAwan
7 Dimension Analysis For GBPCAD 😇7 Dimension Analysis - Bullish Setup on GBP/CAD Analysis Time Frame: Daily 1: Price Structure: The market is currently exhibiting a bullish price structure, characterized by an initial Behavior of BoS (Breakout of Support). The move is impulsive, and the inducement is completed with liquidity swept internally. This is the 1st pullback in the bullish move, and the extreme order block (OB) remains unmitigated. Strong bullish momentum is evident around the demand area. 2: Patterns: 🟢TREND LINES: A horizontal support line is observed, acting as a key level of support. 🟢CHART PATTERNS: A double top pattern with an impulsive breakout and heavy volume is in place. A rectangle pattern has also broken out, with the previous resistance now becoming support. A V-shaped swing indicates a rapid recovery. 🟢CANDLE PATTERNS: A key reversal pattern has formed, signaling a potential trend reversal. A record session count of 4 candles is observed, indicating strong bullish momentum. A change in guard pattern has appeared. Momentum has failed to sustain a clear direction. 3: Volume: Volume on the breakout was not significant, but after the breakout, big volume appeared as a follow-up. Volume during the correction phase is average. 4: Momentum UNCONVENTIONAL Rsi: 🟢The Unconventional RSI is currently in a sideways zone. 🟢Divergence is evident. 🟢Confirmation is needed for a breakout above the 60 level or resistance. 5: Volatility measure Bollinger bands: 🟢Prices are taking support at the middle band, indicating its significance as a support/resistance level. 🟢A squeeze breakout occurred, going outside the upper band, and prices have already done a "Walking on the band" move, indicating bullish momentum. 🟢A headfake pattern is clearly visible at the low of the previous move. 🟢Dual band derivation suggests that confirmation may take 1 or 2 more days. 6: Strength ADX: The ADX is in a "kiss and cross" position, but the main line is above 20, indicating that bulls are still in strength. 7: Sentiment ROC: The rate of change for GBP against CAD is positive, indicating GBP strength. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: The current structure is bearish, but as 4 pullbacks are already counted, there is a high chance that the price can change structure. It is advisable to enter once the choch is done, as the low is already confirmed. ☑️ Entry Move: Impulsive ✔ Support Resistance Base: Trend line now acts as support. ➕ FIB: Activated ↕️ Trend Line Breakout: Broken. ☑️ Final Comments: Consider buying. 💡 Decision: Buy. 🚀 Entry: 1.7040 (1st option), 1.6860 (2nd option). ✋ Stop Loss: 1.6795 🎯 Take Profit: 1.7637 😊 Risk to Reward Ratio: 1:11 🕛 Expected Duration: 30 days.
Long
by Optimum369