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GBPCAD trade ideas

Analysis of GBP/CAD: Price Falls Below 1.800 LevelAnalysis of GBP/CAD: Price Falls Below 1.800 Level In the first nine months of 2024, the GBP/CAD exchange rate rose by over 7%, surpassing the significant 1.800 level. The last time GBP/CAD remained consistently above this level was back in 2016, but it later dropped below. Since then, bulls have made two attempts to push the price above 1.800: in 2018 and again in 2020 (during the coronavirus panic) – both of which failed. A third attempt occurred when GBP/CAD climbed above 1.800 in September 2024, but yesterday’s large bearish candles (marked with an arrow) suggest that this attempt to stay above 1.800 may also fail. Yesterday’s decline in GBP/CAD was driven by a combination of factors, including: → A rise in oil prices, which strengthens the Canadian dollar as Canada is a major exporter of oil; → A slowdown in manufacturing activity in the UK during September, as reported by Reuters. Technical analysis of the GBP/CAD chart shows the price is moving within an ascending channel (marked in blue), which has remained relevant since the start of 2024. Support levels for the price could be → The 1.78500 level (which acted as resistance from mid-July before being broken in September); → The median line of the ascending channel; → The orange trendline. However, it is possible that these support levels may not be strong enough to ensure that GBP/CAD can consistently hold above the 1.800 level, which has historically acted as key resistance. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
GBPCAD Long Pullback TradeGBPCAD Long Pullback Trade We rejected our HTF pullback zone and then returned above. Multiple confirmations on H4 - price rejected area between 50 and 100 MA, long-term support rejection, previous day low rejected. Stop Loss below the recent low: 1.78851 Take Profit: 1.79819 1. R:R 1:1, 0.5% Risk 2. After reaching TP closing half and moving SL to Breakeven 3. Trailing the rest with market structure on M15 later H1 - Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal. - Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits. *No important news for GBPCAD today*
Long
by Marteyfx
Long GBPCADHere there are multiple confluence for this trade. Fundamental factors: Market sold off aggressively due to the IRAN missle attacks. When situation like this happens market tends to overshoot. So trying to get the retracement. Techincal Factors: It created a multi day double bottom patern. RSI is also created a bullish divergence which shows that price might make a reversal. Trade Management: Although in the chart I am aiming for 2R. I will close half the position in 1R and close the rest on TP level which is set at the top of the potential daily range based on the ADR.
Long
by ezfx07
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
BUY Limit on GBPCAD FX:GBPCAD Fundamental fact : GBP strong Bullish because economic data + US Fed rate policy makes USD slumps, its makes Gold and GBP become more strong Bullish... OffCourse GOLD on the other hands keep rising because Geopolitical WAR. CAD keep weakening until maybe 2 week onwards, CAD strong Sell because, Oil price slump, Oil Price keep Selling. Here is my idea ; on H1 GBPCAD take buy Limit on FVG price at @180.383 SL 179.800 TP 181.400 TP2 182.00 If break TP1 on 181.400, @GBPCAD will keep rising until 182.000
Long
by hiro1328
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