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British Pound / Canadian Dollar

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GBPCAD trade ideas

GBPCAD INTRADAY oversold bounce back supported at 1.8400The GBP/CAD currency pair maintains a bullish sentiment, supported by the prevailing uptrend. Recent intraday price action shows a corrective pullback toward the previous consolidation zone and the support trendline area. Bullish Scenario: The key trading level to monitor is 1.8400, which represents the previous consolidation range. A successful bullish bounce from this level could trigger an upside move toward the 1.8640 resistance. Sustained bullish momentum could then target the next resistance levels at 1.8730 and 1.8800 over the longer timeframe. Bearish Scenario: Conversely, a decisive break below 1.8400, with a daily close below this level, would invalidate the bullish outlook. This could open the way for a deeper retracement toward 1.8310, with further downside potential targeting 1.8200. Conclusion: The overall sentiment remains bullish as long as 1.8400 holds as support. Traders should look for bullish confirmation at this level to sustain upward momentum. A break below 1.8400 would indicate a potential trend reversal, signaling further downside risk. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
GBP/CAD bullish sideways consolidation supported at 1.8470The GBP/CAD currency pair maintains a bullish sentiment, supported by the prevailing uptrend. Recent intraday price action shows a corrective pullback toward the previous consolidation zone and the support trendline area. Bullish Scenario: The key trading level to monitor is 1.8470, which represents the previous consolidation range. A successful bullish bounce from this level could trigger an upside move toward the 1.8750 resistance. Sustained bullish momentum could then target the next resistance levels at 1.8900 and 1.9020 over the longer timeframe. Bearish Scenario: Conversely, a decisive break below 1.8470, with a daily close below this level, would invalidate the bullish outlook. This could open the way for a deeper retracement toward 1.8350, with further downside potential targeting 1.8200. Conclusion: The overall sentiment remains bullish as long as 1.8470 holds as support. Traders should look for bullish confirmation at this level to sustain upward momentum. A break below 1.8470 would indicate a potential trend reversal, signaling further downside risk. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
VWAP Setup on GBP/CAD with London SweepGBP/CAD has shown a strong reaction at VWAP support, with aggressive momentum and precise institutional buy-ins. Price has also swept a key London session low, which could act as a liquidity grab before a potential move higher. Key Points: VWAP Holding as Support – Price bounced off the two-day anchored VWAP with strong momentum. London Low Sweep – A clear liquidity grab below a key session low before reversing. Major Levels in Play – Some key levels have been broken, adding to the setup’s validity. Fundamentals: Neutral Bias – No strong fundamental drivers pushing GBP/CAD in either direction. This setup is mainly technical. A clean VWAP setup with strong price action—worth keeping an eye on.
Long
by benjaminlombaert