GBPCAD - Short TrendPrice has formed double top bearish divergence.
If price crosses down neckline, bearish trend will start.
Entry is at breakout of neckline.
SL is above last HH.
GBPCAD trade ideas
GBPCAD in bullish trend GBPCAD in bullish trend with bearish diversions, expected trend reversal, Entry with a sell stop manage risk accordingly RR .5%
GBP/CAD Daily AnalysisSince forming a double bottom (reversal) at 1.7500, buyers have been in total control of the GBP/CAD market.
Now we may see a correction/retracement play out before the next move up.
An area of interest is 1.7750 which has previously acted as support.
There is a Bank of Canada rate statement on Wednesday.
POTENTIAL SHORT TREND Price created LL and lh breaking structure at 78964, then pulled back to for a retracement to gather momentum for a short trend.
It earlier to swing into sell right now, a look at candle print out indicates upside liquidity is not yet fully taken out, which i highlighted with an arc, because of inefficiency created around 78924 up to 79172.
Price will have to take out those liquidity lying around before further downward movement.
Target would be 78964
POTENTIAL SHORTPrice was making HH and HL, broke structure to create new low around 78704. Imbalance (inefficiency) was created as result of that break out, with upside retracement on going to fill that liquidity up to 79162.
Expect massive downward movement as a result of large gap opened up by market structure and target would be 78026
GBPCAD BEARISH FOR 1000PIPSFundamental Drivers for GBPCAD Bearish Move
Weakness in the British Pound (GBP):
The British economy has faced challenges due to factors like:
Post-Brexit Trade and Economic Struggles: Ongoing economic issues related to the UK's departure from the EU (Brexit) could weaken the GBP. Supply chain disruptions, inflation, and labor shortages are some of the lingering effects.
Bank of England's Monetary Policy: If the Bank of England (BoE) remains dovish or adopts a less aggressive stance on interest rates compared to other central banks (like the Federal Reserve or European Central Bank), this could make the GBP weaker.
Political Uncertainty: Any political instability or leadership changes in the UK could further impact the pound's performance.
Strength in the Canadian Dollar (CAD):
Several factors could push the Canadian Dollar higher relative to the GBP:
Oil Prices: As Canada's economy is heavily linked to oil exports, a sustained rise in oil prices (WTI) could boost the CAD. A strong global demand for oil or supply-side disruptions could lead to CAD strength.
Monetary Policy of the Bank of Canada: If the Bank of Canada (BoC) adopts a hawkish stance or signals a tightening of monetary policy while the BoE remains dovish, the CAD would outperform the GBP.
Strong Economic Data from Canada: Better-than-expected GDP growth, employment numbers, or trade balance could support CAD strength.
Global Risk Sentiment:
If global risk sentiment shifts towards safer assets (e.g., commodities), the CAD could gain more strength. Additionally, if there's a risk-off environment with rising global tensions, the CAD might benefit due to its commodity-backed nature.
2. Technical Analysis for GBPCAD Bearish Move
Resistance Levels:
GBPCAD could be facing key resistance at a certain price level, and if it fails to break through, that could trigger a bearish reversal. For example, if the pair has repeatedly failed to sustain levels above a certain resistance zone (e.g., 1.7000 or higher), this could signal that the market is losing bullish momentum and the pair could trend lower.
Trendlines and Chart Patterns:
A clear downtrend, with lower highs and lower lows, could indicate a bearish continuation. Additionally, chart patterns like a descending triangle or head-and-shoulders formation could signal a breakdown and push GBPCAD lower.
Moving Averages:
A crossover of a short-term moving average (like the 50-day MA) below a longer-term moving average (like the 200-day MA) could indicate a bearish crossover, which might signal further downside.
RSI or MACD Divergence:
If indicators like the Relative Strength Index (RSI) or the Moving Average Convergence Divergence (MACD) show bearish divergence (i.e., while price continues to climb, the indicator shows weakening momentum), it could signal that the trend is losing strength and a reversal is imminent.
Fibonacci Levels:
If the market has recently made a significant move upward and is now retracing, key Fibonacci levels like the 38.2% or 61.8% retracement could serve as resistance zones where a reversal to the downside could take place.
3. Geopolitical or External Events
Oil Price Dynamics:
As mentioned, the CAD is heavily influenced by oil prices. A surge in oil prices could strengthen CAD against the GBP, pushing GBPCAD lower. If global oil demand rises or there's a supply disruption, CAD could outperform GBP.
Global Economic Outlook:
A positive outlook for global growth (which often boosts commodity currencies like the CAD) could be a catalyst for a bearish move in GBPCAD, especially if it contrasts with weakening growth in the UK.
4. Potential Catalysts for a 1,000-Pip Move
Interest Rate Differentials:
If the BoC raises rates while the BoE stays put or becomes more dovish, the differential between Canadian and British rates could widen significantly, causing capital to flow into the CAD and away from the GBP.
Economic Data Surprises:
A surprising economic release from Canada (such as a strong GDP report, higher-than-expected employment data, or a trade surplus) could give the CAD a boost, while disappointing data from the UK (such as lower growth or inflation figures) could weaken the GBP, further supporting your bearish outlook.
GBPCAD-SELL strategy 6 hourly chartthe pair is overbought, and my view remains unchanged. i feel we will see 1.7817 short-term or slightly deeper correction.
Strategy SELL @ 1.7905-1.7940 and take profit near 1.7837 for now. Maintain acceptable leverage is the game for any position as a note.
GBP_CAD RISKY SHORT|
✅GBP_CAD is going up to retest a horizontal resistance of 1.8000
Which makes me locally bearish biased
And I think that we will see a pullback
And a move down from the level
Towards the target below at 1.7900
SHORT🔥
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GBPCAD | 27.01.2025SELL 1.79200 | STOP 1.80200 | TAKE 1.78.3300 - 1.77750 | Down moving price from local resistance level.
GBPCAD SELL PROJECTION Just like other GBP PAIRS , we can see price was in a downtrend then price broke out and rested in a supply zone , so I expect price to drop deep
this is a video that decribe my personal trading strategythis stATEGY IS SUPER SIMPLE AND DOES NOT REQUIRE TOP DOWN ANALYSIS, it is designed in a way that if you cannot acertain in 2 seconds where the maret is likekly to go in less than 5 seconds you dont have a trade or setup, the video is not complete yet i will make a part two if you ask for it i want to be sure anybody or sombody is interestted
Bullish flags support the momentum of a tradeBullish flags support the momentum of a trade and offer a suitable risk-to-reward (R:R) ratio for continuation setups...
...with chance to run.
GBPCAD: Bearish Forecast & Outlook
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to sell GBPCAD.
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Bullish rise?GBP/CAD has reacted off the support level which is an overlap support that is slightly below the 38.2% Fibonacci retracement and could rise from this level to our take profit.
Entry: 1.7650
Why we like it:
There is an overlap support level that is slightly below the 38.2% Fibonacci retracement.
Stop loss: 1.7556
Why we like it:
There is a pullback support level that aligns with the 71% Fibonacci retracement.
Take profit: 1.7821
Why we like it:
There is a pullback resistance level that is slightly above the 61.8% Fibonacci retracement.
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GBPCAD Long Swing PositionEntry: 1.75889
Stop Loss: 1.74556
Take Profit 1: 1.78500
Take Profit 2: 1.80000
Take Profit 3: 1.81672
#002 Obvious Range LongBuying.
WIll check chart again later in the morning and decide if I should exit manually or leave it be.
0041SGT 22012025
Wed 22nd Jan 2025 GBP/CAD Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a GBP/CAD Buy. Enjoy the day all. Cheers. Jim
GBPCAD - Long Trade Double bottom divergence indicates trend reversal.
Price has crossed up previous LH indicating bull trend ahead.
GBPCAD - Bullish Setup at Key Support ZoneThe GBPCAD pair is currently approaching a significant demand zone that has historically acted as a strong support level, leading to bullish reversals. The recent downward momentum brings the pair into this area, where buyers might regain control.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would indicate a potential upward move. If buyers step in, the price may head toward the 1.77424 level.
This setup suggests a possible short-term rebound in line with the broader market structure.
Analysis Idea: GBPCAD Long SetupThe GBPCAD pair is presenting a promising buy opportunity, supported by a weak Canadian Dollar and favorable technicals:
📊 CAD Bearish Drivers:
Weak Economic Data: Recent figures highlight a slowdown in Canada’s economic momentum.
Dovish BoC Policy: The Bank of Canada maintains a dovish stance, limiting CAD upside.
Global Risks: Broader market uncertainties weigh on CAD as a commodity-linked currency.
🎯 Trade Setup:
Uptrend: The market remains in an uptrend, providing bullish momentum.
Key Support: Strong demand zone around 1.75917 offers an ideal area for entry.
Targets: Watch for a move toward higher levels, with potential continuation in the uptrend.
⚠️ Risk Tip: Use a tight stop below the demand zone to protect capital while capitalizing on the bullish setup.
#Forex #GBPCAD #TradeIdeas
GBPCAD - Potential Buy From Key Support ZoneThe GBPCAD pair is approaching a significant demand zone, highlighted by prior price reactions and a strong historical support area. The market structure suggests the potential for a reversal at this level. The overall context indicates that buyers may take control, pushing the price higher.
I anticipate that if the price shows a clear rejection from the demand zone, the market may move upward toward the 1.77372 level. This setup aligns with the idea of trend exhaustion near support.
If you have any additional insights or agree with this analysis, feel free to share your thoughts!
Overlap resistance ahead?GBP/CAD is rising towards the pivot which acts as an overlap resistance and could drop to the 1st support that is a pullback support.
Pivot: 1.7824
1st Support: 1.7659
1st Resistance: 1.7979
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GBP/CAD is BullishUsing a htf chart we are still bullish with No gap to retrace or make a correction.
This pair needs diamond hands only .
Happy trading.
