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CANADIAN DOLLAR / BRITISH POUND

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CADGBP trade ideas

GBP/CAD Targets Decline as Price Breaks Below Kumo CloudGBP/CAD is emerging a double top pattern on the daily chart following an uptrend, signaling a potential trend reversal due to waning bullish momentum. Currently, the price is descending towards the 161.8% Fibonacci level at 1.76824, which coincides with the neckline of the double top pattern and serves as a critical support area. The break of this level is essential for confirming the pattern. Kumo Cloud Break and Ichimoku Analysis The price has also broken below the Kumo cloud, indicating a shift to bearish conditions and reduced buying power. If the price breaks the 161.8% Fibonacci level at 1.76824, subsequent support levels are at 1.75720 (200.0% Fibonacci) and 1.74523 (241.4% Fibonacci). Each of these levels can act as key points to assess the strength of the sellers and serve as strategic entry points for potential trade decisions. Alternative Scenario If the price fails to breach the 161.8% Fibonacci support and retraces upwards, it could target the resistance levels at 1.78611 (0.0% Fibonacci) and 1.79715 (61.8% Fibonacci).
Short
by Errante
Heading into overlap resistance level?GBP/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.7859 Why we like it: There is an overlap resistance level that lines up with the 38.2% Fibonacci retracement. Stop loss: 1.7926 Why we like it: There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement. Take profit: 1.7740 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPCAD Sellers In Panic! BUY! My dear friends, Please, find my technical outlook for GBPCAD below: The price is coiling around a solid key level - 1.7837 Bias - Bullish Technical Indicators: Pivot Points Lowanticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 1.7917 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
GBPCAD is in the bearish directionHello Traders In This Chart nzdcad HOURLY Forex Forecast By FOREX PLANET today GBPCAD analysis 👆 🟢This Chart includes_ (GBPCAD market update) 🟢What is The Next Opportunity on GBPCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Chart
Long
by ForexMasters2000
GBP/CAD Short Setup on Pullback to Resistance LevelOverview: Currently observing a potential short opportunity on GBP/CAD as price trends downward. I’m waiting for a pullback to a key resistance level to evaluate entry conditions. Analysis: The 1-hour timeframe shows price respecting the red moving average (acting as dynamic resistance) and moving lower. I'm setting an alert at 1.7945, close to the moving average, where I anticipate potential resistance on a pullback. Entry Plan: Alert Level: 1.7945 If price approaches this level and shows signs of rejection (e.g., bearish candles, wicks, or lower highs), it would confirm a possible short entry. Stop Loss: Tight stop just above the red moving average or recent high to limit risk. Target: Targeting continuation to the downside, with an initial take profit at the recent lows around 1.7900 and possibly lower if momentum continues. Risk Management: Using a tight stop to protect against a breakout above resistance. Monitoring price action closely around the 1.7945 level to confirm entry. Disclaimer: This is not financial advice, and please ensure you use your own risk management practices when trading. Let me know your thoughts and if you see similar setups!
Short
by SamadeusM