Gbpcadshort
GBP/CAD going lower 💡Hello traders,
Hope you all have a fantastic day !
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GBP/CAD will go lower after previous support was broken and now it become resistance. Price already pushed down under 100 MA - next target 200 MA area.
Let us know what you think about this idea.
Trade safe !
GBPCAD H1 SHORT PRICE ACTION FORECAST A steadfast bearishness is under control of this pair. The seller pressure should rest before it continues the downward movement towards the previous support level.
A healthy pullback for the downtrend continuation will give further confirmation, and it allows the placement of a short entry.
The order:
Type: sell-limit
S/L: 55 pips - R:R | 1:3 -
T/P: support level
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GBPCAD - BEARISH BIASGBP - BULLISH
1️⃣ Investors dumped riskier assets and turned to safety amid renewed concerns about US-China relations after President Trump banned transactions with Chinese tech group Tencent and with the owner of TikTok ByteDance, citing a threat to national security.
2️⃣ Bank of England left monetary policy unchanged, saying Britain's economy will take more time to recover from the pandemic-induced recession than initially thought.
CAD - BULLISH
1️⃣ Oil prices jumped to its highest since March amid a massive decline in crude oil inventories and hopes for a fresh US stimulus package.
2️⃣ Unemployment rate in Canada fell more than expected to 10.9% from 12.3% previous.
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Technical
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- We short on break on support level to become SBR level + SMA50 area.
- GBPCAD in bearish zone.
GBP/CAD AS WE PLANNEDGBP/CAD went the same as we planned, now the question is whether it will break the structure around 1.74800 area, or will continue down to a deeper retest towards 1.71800 area. But since bad news is expected for GBP next week, and for CAD was good past week, I think it will definitely go for a deeper retest.
GBPCAD, TIME TO MOVE.**ENG**
- Price reaching our reversal zone, we are expecting some consolidation or even a reversal from this area.
**PT**
- Preço a alcançar a nossa zona de reversal, estamos à espera de um reversal ou então alguma consolidação neste nível.
GBPCAD - SWING - 04. AUGU. 2020Welcome to our weekly trade setup ( GBPCAD )!
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1 HOUR
Market about to turn bearish..
4 HOUR
Bearish price action and pressure formed, good short entries!
DAILY
Overall bullish market about to break back towards previous lows.
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FOREX SWING
SELL GBPCAD
ENTRY LEVEL @ 1.74750
SL @ 1.76470
TP @ 1.72060
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Update on GBPCAD short trade +300 pipsHey guys, this is the update on GBPCAD short trade that I forecast on July 31. Check that forecast below. Please hit like if you guys like my analysis and follow for more analysis. Thanks.
GBPCAD ON THE VERGE OF A REVERSAL?!**ENG**
- Price breaking our consolidation box and is now heading for a retest, we are expecting more downside after this same retest, wait for an entry confirmation before entering, look at the lower timeframes (such as 15min).
**PT**
- Preço a quebrar a nossa box de consolidação e está de momento a caminho de efetuar um retest, estamos à espera de um drop maior este mesmo retest, o ideal será aguardar por uma confirmação de entrada em timeframes inferiores (assim como 15min).
GBPCAD TRADE PROJECTION GBPCAD is currently on a Monthly Resistance and is currently forming a mini down trend on the smaller timeframe (30M to be precise)....Follow the analysis carefully, as shown in the image above.
GBPCAD H4 SHORT PRICE ACTION FORECAST The pair has been trading within a channel from a broader look (W1). Price has tested the resistance level from the structure. Now, it should move downward to complete the next leg towards the channel's support line.
At H4, the price could not form a new fresh high, signaling the bearish pressure. After the current strong bearish candle, a pullback towards the recently broken support zone from the previous consolidation should be tested to trigger a short entry.
The order:
Type: sell-limit
S/L: 77 pips - R:R | 1:2.3 -
T/P: Fib level 0.5 as reversal point.
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GBPCAD Bearish Retracement Trade Opportunity!!!Currently, we are looking at GBPCAD potential breakout of the trend line giving it a BEARISH trade opportunity to range between 61.8 fib level and 1.7258 support level. This will be an important point to note as we also see a potential breakout from middle band giving it a bearish strength to test the lower band. As of now, I will be bearish on GBPCAD and will like to see a breakout from here or else I will be looking at 1.7670 resistance level to enter a short position.
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