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British Pound / Canadian Dollar

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GBPCAD trade ideas

GBPCAD SHORT We can see that this pair has been very bullish for some time and may continue in that direction. Though there is room for a pullback, it shows signs that it wants to. added confluence: 4hr and daily divergence, double top formation, bearish 4hr candle stick rejection with imbalance. Note, I will only be looking to enter a trade when the pair rejects the imbalance zone marked out and breaks and closes under a 15-minute low, anywhere under my entry line
Short
by The-Trading-Guy
GBPCAD Is Going Up! Buy! Please, check our technical outlook for GBPCAD. Time Frame: 8h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.769. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.782 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPCAD , Bearish according to VSA unless it breaks the level**Analysis for GBPCAD Short Trade:** - **Volume Spread Analysis (VSA):** VSA suggests a downward move for GBPCAD, indicated by high volume and impulse buying candles. We will wait for a no-demand candle with low volume or an upthrust candle with low volume to confirm the entry. - **Entry Confirmation:** The probability for a sell position is high, provided the price does not break above the upper resistance level marked on the chart. - **Target Projections:** If the upper level is broken, potential targets TP1 and TP2 are marked on the chart. These levels are expected to be reached in the coming week.
Short
by coolbouy
1
GBPCAD Weekly Analysis and OutlookGBPCAD Weekly Analysis and Outlook This week, the GBPCAD pair has exhibited a marked downward trajectory, closing in a bearish continuation phase. This downward momentum reflects a negative sentiment among traders, suggesting further potential for decline. Current Market Overview: The pair has been steadily descending, supported by unfavorable market conditions and bearish sentiment. As it approaches a key support zone, traders should closely monitor the price action. A successful break below this support would likely confirm the continuation of the bearish trend. Expectations and Potential Scenarios: Upon breaking the support zone, we anticipate that the GBPCAD will continue its downward momentum. This breakout could open the door to lower levels, offering traders potential opportunities to capitalize on the bearish trend. Primary Expectation: If the support is broken, the price is likely to sustain its downward movement, potentially targeting lower support levels. This scenario would reinforce the bearish outlook, making it a favorable environment for short positions. Alternative Scenario: However, if the price encounters strong support and fails to break through, a temporary pullback could occur. Traders should be prepared for this scenario, as it might provide opportunities to reassess entry points at higher levels before resuming the downward trend. Conclusion: In summary, the GBPCAD pair is poised for further downward movement following its recent bearish phase. Traders should watch for a decisive break below the support zone, which could serve as a catalyst for continued declines. Maintaining awareness of both bearish and corrective scenarios will be crucial for effective trading strategies. Stay updated with market developments and adjust your positions accordingly. By Piptera Digital Solutions, Invest Wisely!
Short
by Piptera-Digital-Solutions
GBPCAD Bearish Corrections: Eyeing 1.76065Analysis: Following the recent impact of the Non-Farm Payroll (NFP) report, GBPCAD is showing signs of bearish corrections. The price has been correcting from the 1.78700 region and is now eyeing the 1.76065 price point, clearing last week's gains. Key Points: Market Developments: Recent market developments have sparked renewed interest and confidence in the CAD, leading to increased selling pressure against the GBP. NFP Impact: The Non-Farm Payroll (NFP) report released on Friday significantly affected the market. As a result, we observed a correction in GBPCAD, clearing last week's gains. The bearish momentum is likely due to stronger-than-expected employment numbers. Support Level: The 1.76065 region is being eyed as a significant support level, potentially halting further downward movement. Target: Based on current market momentum and technical indicators, the next significant support level appears to be around 1.76065. Technical Indicators: Moving Averages: The 50-day and 200-day moving averages are diverging, indicating potential for a bearish trend continuation. Relative Strength Index (RSI): Currently trending downwards, suggesting increasing selling momentum. Volume: There has been a noticeable uptick in trading volume, supporting the bearish outlook. Conclusion: With the market reacting negatively to the recent NFP report and the price correcting from the 1.78700 region, GBPCAD is poised for a move towards 1.76065. The market's response to the NFP report, causing a correction and subsequent clearing of last week's gains, adds an extra layer of volatility to monitor. Traders should watch for potential rebounds and confirm the downtrend with volume and momentum indicators. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always do your own research before making any trading decisions.
Short
by TheLastLuftwaffe
Short trade setup on GBPCADShort trade setup on GBPCAD initiates at market: 1. **Entry Point**: market 2. **Stop Loss**: The stop loss is set at 1.76047, ~1.83% above the entry point. 3. **Target**: The target price is set at 1.56129, ~9.69% below the entry point. 4. **Risk/Reward Ratio**: The risk/reward ratio for this trade is ~5, meaning the potential reward is 5 times the risk. I expect the price to decline significantly from the entry point. The stop loss is strategically placed to limit losses if the price moves against the trade, while the target is set to maximize potential gains based on the observed trend. The large risk/reward ratio indicates a favorable trade setup, assuming the price moves as anticipated.
Short
by Joy_Bangla
GBPCAD Long IdeaThe GBP/CAD currency pair is anticipated to be long in the next day due to several key factors. Firstly, positive economic data from the UK, such as higher-than-expected GDP growth or favorable employment figures, can strengthen the British Pound. Secondly, any signs of economic slowdown or unfavorable economic reports from Canada, such as declining oil prices (which Canada heavily relies on) or weaker GDP growth, can weaken the Canadian Dollar. Lastly, central bank actions, like a potential rate hike from the Bank of England or dovish statements from the Bank of Canada, can also influence the pair. Together, these factors create a favorable environment for the GBP/CAD to trend upwards.
Long
by forexdailyalert
2
GBPCAD Technical Analysis! BUY! My dear followers, This is my opinion on the GBPCAD next move: The asset is approaching an important pivot point 1.7713 Bias - Bullish Safe Stop Loss - 1.7645 Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market. Goal - 1.7812 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
2
Bearish drop?GBP/CAD has reacted off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop to our take profit. Entry: 1.77221 Why we like it: There is a pullback resistance that aligns with the 50% Fibonacci retracement. Stop loss: 1.78162 Why we like it: There is a pullback resistance level. Take profit: 1.75989 Why we like it: There is a pullback support level which lines up with the 61.8% Fibonacci retracement. 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 - 4hrs ( Sell Trade Target Range 220 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 ——————————— Bullish Break 1.77500 Rasons - Choch Area - Major Turn level / w - Channel Break Out - Fibo Golden Zone - Visible Range Hvn Bullish Reversal 1.75650 Area Reasons - Major Turn level - Fibo Golden Zone - Pattern Target - Quarter's High Area - Choch Zone / Majoe
Short
by GoldenEngine