Why GBP/CAD Looks Ready to Climb to 1.9382The next strong currency ready to climb is GBP/CAD
Strong UK data recently boosted confidence in the pound.
Oil prices are falling, weakening the CAD.
The BoE hints at delayed rate cuts, supporting GBP.
Technical breakout above resistance signals bullish momentum.
Market sentiment favors GBP over commodity-linked currencies.
We are also seeing strong technical signs including:
Cup and Handle
Price>20 and 200MA
Target 1.9382
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Longgbpcad
GBPCAD!! 1/12 News supports price increase⭐️ Smart investment, Strong finance
⭐️ GBPCAD INFORMATION:
Today, waiting for 2 important news about CAD currency. It is expected that the figures will be favorable and support the uptrend.
Besides, the old support zone is supportive and the price does not have much motivation to decrease further
⭐️ Personal comments NOVA:
From the expected economic and technical results, both want prices to recover. NOVA will set up a BUY signal
⭐️ SET UP GBPCAD PRICE:
🔥BUY GBPCAD zone: 1.71100 - 1.71000 SL 1.70600
TP1: 1.71300
TP2: 1.71600
TP3: 1.72000
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest