GBPCAD W4 NOV 2020GBPCAD
Short Setup
Broke out of trendline and fib retracement/retest done. Potential target as marked at 2 zones
Gbpcadshort
GBPCAD - Bearish BiasGBP - BEARISH
1️⃣ Intensifying in uncertainty in Brexit negotiations as there are large differences that remain.
2️⃣ Von der Leyen said the disagreement over access to Britain's fishing waters continues to block progress, which, in turn, was seen as a key factor that took its toll on the sterling.
CAD - BULLISH
1️⃣ Boosted by a rally in oil prices and hopes that a coronavirus vaccine will be rolled out soon.
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Technical
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We are looking to sell the GBPCAD below the resistance of 1.73865 + below SMA 50 on the H1 chart.
GBPCAD - Short sell opportunity ready NOWGBPCAD now is at the top of H4 pennant structure. Whats interesting here, is it reach this area with structural approach while forming multi TF ascending channel structure. Its usually signaling for a turn to the downside from this area targeting up to the bottom of the pennant structure.
I’ve already set my sell entry with sl above the pennant structure trendline. Lets see how this pair will play out..
GBPCAD Bearish OutlookThis pair has been inside a ranging channel just like the CADJPY pair. Obviously, if CADJPY shows a bullish setup this pair should show a bearish setup because they are negatively correlated pairs. The bear flag pattern of this pair is looking to end at the 78.6% Fibonacci retracement level and make another bearish run.
GBPUSD Bearish OutlookThe pair has been inside an ascending channel pattern since September. Currently, the price has reached the 78.6% Fibonacci retracement level and has completed the wave E. A bearish move is expected for next week.
GBPCAD sell1.We got buying pressure on daily.It was rejected many times
2.At least, we must kiss ma200 get more power to go higher or fall below
3.Trade for this week 1.72200-1.72000 will be nice to exit
GL
GBPCAD 4HRSbelow is my idea on Gpcad. keep an eye for price action confirmation around our resistance trendline afterwards go short
GBPCADWelcome back guys
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
GBPCAD in a trend channel path, I think there will be chance for a sell entry because its touched the resistant line in the up trend
STOP LOSS 1.74500
ENTRY POINT 1.73000
TAKE PROFIT1 1.72500
TAKE PROFIT2 1.71500
TAKE PROFIT3 1.71000
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not Financial Advice.
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Wish you luck guys
GBP/CAD shortimpulse, correction followed by a double top to take this short, again great RR lets see if we can play back to the channel lows.
GBPCAD Selltouch athe long term downtrend and the static resistance zone and we can see a small divergence in macd.
let's see what happens....
GBPCAD SELL OPPOTUNITYAs we see, there can be another decrease for GBPCAD in 4h timeframe, as it has touched the top of two channels as the same time, shown in the idea, if it breaks up that point there would be a pullback and huge increase tho.
GBP/CAD Technical Analysis
The counter is currently in an ascending formation.
It has hit the upper parallel which also coincides with a rejection zone.
Hence, we expect the pair to retreat to lower levels from here.
Short on Pullback-Ascending TL retest expected
-0.5-0.618 fib retracement
-Previous support now resistance
-MA50 supporting momentum
resistance lineOANDA:GBPCAD
The price hit a resistance line for several months and the price returned to the bottom of the channel.
