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CANADIAN DOLLAR / BRITISH POUND

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CADGBP trade ideas

GBPUSDThe Bank of Canada cut its key interest rate by 25bps to 4.75% in its June 2024 meeting, as expected, and signaled that more rate cuts are to be delivered should inflation continue to slow as expected. The central bank noted it has stronger confidence that disinflation is converging toward the target of 2%, warranting a less restrictive policy stance. Both of the Bank’s preferred measures of underlying inflation moved to below the 3% threshold in April, and are expected to continue decreasing throughout the year along with the headline CPI. In the meantime, Canada’s first quarter GDP growth was softer than the levels expected by the BoC, and labor data pointed to a tightening job market, further warranting a response of more accommodative credit conditions. Still, the Bank noted that upside risks to price growth remained, magnified by uncertain geopolitical tensions and a relatively more hawkish Fed, raising question marks on how quickly the interest rate can fall.
Long
by murendi
GBPCAD - 4hrs ( Sell Trade Target Range 180 PIP )Pair Name : GBP/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money Key Technical / Direction ( Short ) Type : Mid Term Swing ——————————— Bearish Reversal 1.77900 Bullish Reversal 1.75650 Area Reasons - Major Turn level - Fibo Golden Zone - Pattern Target - Quarter's High Area - Choch Zone / Majoe
Short
by GoldenEngine
NEW TRADE; GBPCAD: ITF CURVE ANALYSIS (2D) - DOWNTREND✨ GBPCAD: ITF CURVE ANALYSIS (2D) ✨ (DOWNTREND) -SL @ 1.78887 (CONSERVATIVE) -SL @ 1.78276 (AGGRESSIVE) SLO2 @ 1.7815 ⏳ MO OR SSO @ 1.7805 - TRIGGERED/⏳ SSO2 @ 1.73188 ⏳ TP1 @ 1.65926 TP2 @ 1.5950 TP3 @ 1.55328 TP4 @ 1.48384 BLO1 @ 1.46716⏳ 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME MO = MARKET ORDER -SL = NEGATIVE STOP LOSS SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT NOTE: This trade is active. I freely went MO to ensure a decent entry while placing the others as listed above. Going to see if we can get this one as the R:R is well for me to take this risk. You will see an aggressive -SL and a conservative -SL. If you're wondering, I'm using both. Let's see how this plays out.. Intermediate time frames (4 hours to 6 day): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by oktane
GBPCAD: ITF CURVE ANALYSIS (12H) - DOWNTREND✨ GBPCAD: ITF CURVE ANALYSIS (12H) ✨ (DOWNTREND) SLO2 @ 1.75699 ⏳ SSO1 @ 1.74981 ⏳ (SET AS AN SSO - let price pass before setting) TP1 @ 1.73613 TP1a @ 1.7266 TP2 @ 1.71618 TP3 @ 1.7031 BLO1 @ 1.6996 ⏳ BLO2 @ 1.69233 ⏳ 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME PA = PRICE ALERT SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT NOTE: This pair is currently in an overall uptrend. However, the ITF (intermediate timeframe) shows us in a downtrend PB (pullback). For the professional trader, you know how to navigate this dilemma. For all else, ask your questions and I'll do my best to respond in a timely manner. Position size appropriately if you plan to take advantage of the opportunity. Intermediate time frames (4 hours to 6 day): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by oktane
GBPCAD: Fundamental and TechnicalDear Traders, On the one hand, Levels of tensions in Hamas-Israel conflicts has decreased. So oil markets started to be more secure thus the CAD had has problems to grow. At the same time, UK witnessed signs of grow for GBP! GBP surged and we are around top of a long-term channel and around a relatively strong level. On the other hand, we are seeing great momentum in the pair and also I'm not sure about good news in middle east. In conclusion, I have got my profits out of GBP. Now it's time to rest and see where the future is going. I'm waiting for a break out of weekly level to continue to long the pair. any strong bearish move that change the trend or any important news might change the direction of the trend.
Long
by AliSignals
GBPCAD - Overbought Zone AheadHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPCAD has been overall bullish from a long-term perspective, trading within the rising channel in red. Currently, GBPCAD is approaching the upper bound of the channel. Moreover, it is also approaching the upper bound of the medium-term channel marked in blue. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red/blue trendlines acting as non-horizontal resistance. 📚 As per my trading style: As #GBPCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
SELL Off Imminent ?? Drop to 1.73 Next??As per my last trade idea on this pair we got the dip back down under the 1.73 mark and are now well inside the Monthly SELL zone fast approaching the 1.78 mark were I mentioned that the market may target (see related post) So, what's next? Over the coming days and weeks, it’s likely we’ll see a sell-off for this pair. On the weekly charts, the 1.775 level is a key resistance point where the market has repeatedly pulled back. Zooming into the lower timeframes, the pair appears extremely overbought across all lower TF charts. This condition at a key resistance level typically signals an imminent trade in the opposite direction. I will be patiently waiting for any SELL signals using my TRFX indicator, from the 4-hour to the daily chart. Once the first signal occurs, I plan to build a short position. The initial target for this trade is the previous resistance area of 1.73, where buyers are likely to regroup for another attempt to break through the 1.775 resistance level before potentially moving back down toward 1.70 or lower. Given the key resistance and overbought conditions, a sell trade seems the most logical next step. Share your thoughts in the comments. (P.S. I've been a bit busy the past few weeks, so I haven't been as active on the platform.)
Short
by TheFxAce
5
GBPCAD - 4hrs ( Buy Trade Target Range 150 PIP ) Pair Name : GBP/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— 🦸‍♀️Bullish Break 1.74750 Area Reasons - Major Turn level / d - Trend Line Area - Choch Area - Fixed Range Hvn - Visible Range Hvn 🦸‍♀️Bearish Reversal 1.76250 Area Reasons - Major Turn level - Fibo Golden Zone - Pattern Target - Quarter's High Area - Choch Zone / Majoe
Long
by GoldenEngine
GBPCAD SellThere's a growing sense of caution around GBPCAD. While recent technical indicators have suggested a strong buy, a closer look reveals potential exhaustion from buyers, particularly at key levels across multiple timeframes. Key Levels and Exhaustion: Weekly, Daily, 4-Hour Charts: GBP/CAD is currently testing resistance on its weekly, daily, and even 4-hour charts. This confluence of resistance points suggests the pair might be struggling to push higher. Buyer Exhaustion: The recent rally might be losing momentum. We could be seeing signs of buyer exhaustion, where the bulls are running out of steam after a significant upward push. I have entered a sell position and look to hold it overnight into tomorrow, to see how CAD and USD news affect the seniment. Entry: 1.75929 Stop: 1.76275 Profit: 1.74503 1:4 RR - Risking 1% in the hope of hitting 4% returns.
Short
by xrpbilbs
1
Short Term - GBPCAD sellJust initiated a sell trade on GBP/CAD, eyeing a drop to 1.75015. We’ve seen the pair climb steadily, but it’s bumping up against a key resistance levels. I’ll be monitoring the market closely and might adjust my position (add position as well) if there are any significant fluctuations. With minimal leverage, I’m managing risk while aiming to capitalize on this anticipated pullback. This trade is all about catching the expected dip and making a quick gain from the immediate price action. Let’s see how it pans out as we aim for that 1.75015 level! Should hit sooner than later.
Short
by GlobalHorns