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Gbpcadshort

GBPCAD - BEARISH BIAS===== MARKET OUTLOOK ===== GBP - BEARISH 1️⃣ Fears that a COVID-19 variant, first found in India, could delay the next phase of the reopening on June 21. CAD - BULLISH 1️⃣ A ramp-up in global vaccination efforts and a strong economic recovery could push the loonie higher. 2️⃣ The Canadian central bank is expected to keep its current guidance on interest rate hikes starting in the second half of 2022. 3️⃣ Rising oil prices underpinned the CAD. 4️⃣ Canada's economic growth in the first quarter remained robust. ===== TECHNICAL ===== We're shorting this pair on SBR level + SMA 50 area + Pivot point level on H1 chart.
Short
by MonsunAsia
GBPCAD - FOREX - 31. MAY. 2021Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Closure below main sr level. 4 HOUR Pullback from previous lows.. DAILY Looking for another break towards previous sr level. - FOREX SETUP SELL GBPCAD ENTRY LEVEL @ 1.71260 SL @ 1.71610 TP @ 1.70440 Max Risk: 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Short
by DACapitalTrading
9
GBPCAD facing bearish pressure, potential for further downside!Prices are facing bearish pressure from horizontal swing high resistance in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. Prices might push down towards 127.2% Fibonacci extension, 161.8% Fibonacci retracement and horizontal swing low support level. If prices breakthrough 1st resistance. Prices might face resistance from horizontal swing high resistance in line with 161.8% Fibonacci extension. Ichimoku cloud is also above prices, showing a bearish pressure for prices.
Short
by TradeGATEHub
GBPCAD Yet To Reach 161.8% Fib... Looking at GBPCAD, we can see that the previous BEARISH movement failed to reach 161.8% fib level. In fact, price retested the broken support level @1.6950. This could signal another wave of BEARISH movement as we are currently eyeing for 2 possible price rejection level. I have identified the supply zone (red area) where I strongly believe BEARISH pressure will take price towards minimally the 161.8% fib level and even the strong support @1.6785. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex