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GBPCAD trade ideas

GBP/CAD Currency Pair – Technical AnalysisBullish Scenario: The GBP/CAD currency pair maintains a bullish outlook, supported by the prevailing longer-term uptrend. The recent intraday price action indicates a period of sideways consolidation near the rising support trendline. The key level to watch is 1.8356, which aligns with both the previous consolidation range and the trendline support. A corrective pullback that finds support at 1.8356, followed by a bullish rebound, could drive the pair higher toward 1.8500, with extended upside targets at 1.8550 and 1.8600 over the longer timeframe. Bearish Scenario: A confirmed breakdown below 1.8356, particularly with a daily close beneath this level, would invalidate the bullish outlook. This could lead to a deeper retracement, exposing support at 1.8330, with further downside potential toward 1.8300, signaling a shift in momentum. Conclusion: The overall trend remains bullish, but 1.8356 is a critical level for confirmation. Holding above this level strengthens upside potential, while a decisive break below it could open the door for further downside correction. Traders should closely monitor price action around this key support zone to determine the next directional move. 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 Analysis – Key Levels & Trade Scenarios📊 Timeframe: Weekly (1W) | Current Price: ~1.8391 📈 Bullish Context: Resistance at 1.8391: Price is testing a strong supply zone (dark red area). A breakout above this level could open the door to further upside. Support at 1.8233 & 1.7677: 1.8233: Short-term support where buyers have stepped in. 1.7677: Major support level, previously tested multiple times. 📉 Current Outlook: Price has aggressively moved up, breaking through previous resistances. Approaching a critical resistance area, where rejection is possible. If a rejection occurs, a retracement toward 1.8233 or 1.7677 could be seen. 📈 Trade Setups: 🔼 Long (Breakout Play): Entry: Above 1.8400 with confirmation. Target 1: 1.8600 Target 2: 1.8800 Stop Loss: Below 1.8230 to avoid fakeouts. 🔻 Short (Rejection Scenario): Entry: Bearish rejection from 1.8391 with confirmation. Target 1: 1.8233 Target 2: 1.7677 Stop Loss: Above 1.8450. 📌 Final Thoughts: GBP/CAD is at a critical resistance; a breakout could lead to new highs. A rejection would confirm a pullback toward support levels. Key macroeconomic data may impact momentum and direction.
Short
by EdgeTradingJourney
1
GBPCAD’s Bullish Surge: What’s Next? 💹 The GBPCAD has been in a strong bullish trend, reaching into previous highs on the daily timeframe—a key liquidity zone! 💰 This is a crucial area where smart money may take profits or induce a retracement before the next move. 📉 Given that price is currently overextended, I’m not looking to buy at these highs. Instead, I’ll be watching for a potential pullback into an unresolved imbalance, where we could see a high-probability long setup—if price action confirms the move. 🧐 💡 Patience is key in trading. Chasing price at extreme levels often leads to significant losses. I’ll be waiting for the right conditions to align before looking for an opportunity. ⚠️ Not financial advice. Always trade responsibly! 📊 Let me know your thoughts in the comments below.. 👇
by fxtraderanthony
GBPCAD is in the bearish direction Hello Traders In This Chart gbpcad 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 Long SwingGbp/Cad is trading currently at significant resistance level. Many traders are expecting price to drop from here and sentiment is on downside. But looking at current priceaction and fundamentals connected to canadian dollar. I personaly expect prices to go higher from here. First target are highs from May 2018. Looking on monthly and weekly timeframes we can cleary see momentum to upside and during last two weeks there has been only buying and no selling, plus looking on latest COT reports institutions are heavly selling CAD. If this level holds it's a good sign for more upside.
Long
by VarisSvard
Gbpcad analysis This is a technical analysis of the GBP/CAD (British Pound/Canadian Dollar) currency pair on a 2-hour timeframe from OANDA. The chart highlights key support and resistance levels and suggests a potential price movement. Key Observations: 1. Resistance Level (Near 1.8300): Marked at the upper purple zone. The price is approaching this resistance level, indicating potential selling pressure. 2. Support Level (Near 1.8050): Marked at the lower purple zone. This area has acted as a previous demand zone where buyers could step in. Predicted Market Movement: The blue arrow suggests a potential price rejection at the resistance level around 1.8300. A downward movement is anticipated toward the support level at 1.8050. The forecast includes a minor retracement before a deeper decline. Trading Implications: Sell Opportunity: If price shows rejection at resistance (1.8300), traders might look for short positions targeting the 1.8050 support. Buy Opportunity: If the price reaches support (1.8050) and holds, traders may consider long positions. This analysis assumes typical price action behavior, where resistance leads to sell-offs and support leads to buying interest. Traders should watch for confirmation signals before entering trades.
Short
by Forex_ViP_Signalss