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Gbpcadshort

GBPCAD - Bearish BiasGBP - Strong Bearish 1️⃣ The Bank of England kept its interest rates unchanged in its November meeting, compared to market expectations for a 15 basis point hike. 2️⃣ Brexit concerns resurfaced when there was a threat that UK Brexit negotiator David Frost might trigger Article 16 (Northern Ireland Protocol). 3️⃣ UK GDP is expected to shrink in the third quarter following the decline in retail sales and trade balance during the period. CAD - Weak Bullish 1️⃣ WTI crude oil prices rose 1% on Monday amid hopes of a recovery in demand after the US approved a USD 1.2 trillion infrastructure bill last weekend. ===== Technical ===== We are looking to sell the GBPCAD on SBR levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
2
GBP/CAD:DOWNTREND|PRICE ACTION| SHORT SETUP...Bank of Canada, Macklem: We may raise the rate sooner than previously thought. Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
5
GBPCAD - Bearish BiasGBP - Strong Bearish 1️⃣ The annual inflation rate in the UK dropped to 3.1% in September from 3.2% in the previous month, and lower than market forecasts. The decline in inflation could stop the BOE from raising interest rates this November. 2️⃣ The UK recorded a total of 38,740 cases of COVID-19 infection on Monday. 3️⃣ The Pound is pressed amid new discussions on the Northern Ireland Protocol. 🇨🇦 CAD - Weak Bullish 1️⃣ CAD remains supported by an increase in WTI crude oil prices. 2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts. 3️⃣ The annual inflation rate in Canada rose to 4.4% in September from 4.1% in the previous month, and beat market forecasts. ===== Technical ===== We are selling the GBPCAD after the price failed to break the resistance level. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
GBP/CAD: DETAILED PRICE ACTION|DOWNTREND|SHORT SETUP🔔According to the latest Reuters poll from October 13-20, market analysts expect the Bank of England to be the first of the world's leading central banks to raise rates in the new post-pandemic cycle. Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
7
GBPCAD - Bearish BiasGBP - Strong Bearish 1️⃣ The GBP is under pressure amid the fisheries crisis in Northern Ireland, although the UK will reportedly share a negotiation document on the protocol with the EU Commission this week. CAD - Strong Bullish 1️⃣ The CAD commodity-linked currency continued to be supported after crude oil prices hit a 7-year high of $ 80.31. 2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion. 3️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts. ===== Technical ===== We are selling the GBPCAD after it failed to break the resistance levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
1
GBPCAD - Bearish Bias🇬🇧 GBP - Strong Bearish 1️⃣ The GBP is under pressure amid the fisheries crisis in Northern Ireland, although the UK will reportedly share a negotiation document on the protocol with the EU Commission this week. 2️⃣ Risk-off sentiment weighing on the GBP. 🇨🇦 CAD - Strong Bullish 1️⃣ The CAD commodity-linked currency continued to be supported after crude oil prices hit a 7-year high of $ 80.31. 2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion. 3️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts. ===== Technical ===== We are selling the GBPCAD after it failed to break the resistance levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
GBPCAD analysisWe have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient. #TradeLikeMagnatrio
by Magnatrio
GBPCAD: Flow into ReversalThis is a lower timeframe description of how we can approach this pair in relation to my last related idea. Please ensure you understand our daily outlook before you proceed with this idea. I will be looking to clear the minor resistance before bouncing from the demand region down into our area of interest to buy from. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
by AlkalineFX
4