Trade Recap: GBP/CAD Long PositionTrade Recap: GBP/CAD Long Position
Trade Details:
Entry: January 15, 2025, at 1.75042
Stop Loss: 1.73868
Take Profit: 1.8251
Pips Gained: Approximately 1008 pips
Technical Analysis:
Trend: Upward momentum observed
Oscillators: Oversold conditions indicated a potential reversal
Fundamental Analysis:
GBP: Positive outlook due to higher government and consumer spending expected to aid the UK's economic recovery in 2025
FT.COM
CAD: Bearish sentiment as the Bank of Canada cut interest rates by 50 basis points to 3.25% on December 11, 2024, despite adopting a more hawkish stance
REUTERS
Outcome:
Result: Trade reached the take profit target, securing a gain of approximately 1008 pips
Note: Trading involves significant risk. Past performance does not guarantee future results.
GBPCAD trade ideas
GBP/CAD BEARS ARE GAINING STRENGTH|SHORT
GBPCAD SIGNAL
Trade Direction: short
Entry Level: 1.864
Target Level: 1.808
Stop Loss: 1.901
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 1D
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Bullish momentum to extend?GBP/CAD is falling towards the pivot and could bounce tot he 1st resistance which is a pullback resistance.
Pivot: 1.8515
1st Support: 1.8403
1st Resistance: 1.8751
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GBPCAD-SELL strategy Daily chart - Line Break (2)The pair is way overbought for the right reasons, but as they always say, whatever goes up, must come down. RSI is extreme, and on shorter time frames, we have some red block starting to appear.
Strategy SELL current @ 1.8650-1.8700 and take profit near 1.8197 for now.
GBPCAD INTRADAY sideways consolidation supported at 1.8516The GBP/CAD currency pair price action sentiment remains bullish, supported by the prevailing long-term uptrend. Recent intraday movements indicate sideways consolidation near the previous resistance level, which has now become a new support zone.
Key Levels and Price Action
The critical trading level to watch is 1.8516, representing the previous consolidation price range. A corrective pullback to this level, followed by a bullish rebound, could signal continued upward momentum. In this scenario, the pair may aim for upside resistance levels at 1.8720, 1.8780, and 1.8900 over the longer timeframe.
Conversely, if the 1.8516 support level fails to hold and a confirmed daily close occurs below this level, the bullish outlook would be invalidated. This could lead to a deeper retracement, targeting the 1.8417 support level, followed by 1.8350 and 1.8285.
Conclusion
The sentiment remains bullish as long as the 1.8516 support level holds, with potential upside targets at 1.8720, 1.8780, and 1.8900. A confirmed breakdown below 1.8516 would shift the outlook to bearish, signaling a move towards 1.8417, 1.8350, and 1.8285. Traders should carefully monitor daily closing levels to assess potential sentiment shifts and trading opportunities.
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.
GBP/CAD The bias for GBP/CAD on the 4-hour chart is currently leaning toward a short position, with the expectation that the price will dip to retest a key demand zone before resuming its upward movement. This outlook is supported by recent price action, where the market has shown signs of consolidating below previous highs, indicating potential exhaustion of upward momentum. A pullback to the demand zone offers a logical opportunity for a price retracement, where buyers may step in and drive the price higher. We are watching for a potential reversal at this demand area, which could provide a favorable entry point for long positions, anticipating a strong rally once the price bounces from this key support level.
GBPCAD-SELL strategy 12 hourly chartThe pair is still very overbought, and of course embedded 'TARIFFS" syndrome. Technically, we have high stochastic and fisher form showing correction possibilities.
Strategy SELL @ current levels 1.8650-1.8700 (or add to shorts) and take profit initially at 1.8427.
GBPCAD- PERFECT SELL SETUP seems like market has formed TOP and now its time to take a corrective move. As compared, Bears have got more weight than Bulls with formation of ABCD pattern, Sentiments more than 90 Percent and Inside bar candle stick pattern as mentioned on chart. WE shall wait for the Formation of 1st LL, which is also a trend line touch zone and a good support level.
GBP/CAD Bearish Setup📉 Bearish Outlook on GBP/CAD – Here’s Why I’m Shorting! 📉
🔎 Fundamental Analysis: CAD Strength Incoming?
1️⃣ Canada’s Economic Data Shows Mixed Signals
Strong Ivey PMI (55.3 vs. 49.2 forecast) ✅
Weak employment numbers (-19.7k full-time jobs) ❌
25% U.S. tariffs on Canada → CAD at risk, but sentiment still holds.
2️⃣ GBP Faces Headwinds
BOE’s Dovish Stance keeps rate cut expectations on the table.
UK economic growth concerns limiting GBP upside.
3️⃣ Risk Sentiment Supporting CAD
If oil prices stabilize, CAD could gain further.
Markets adjusting to trade war concerns—watch USD/CAD for clues!
📊 Technical Breakdown – GBP/CAD Short Setup
🔹 Price Rejected from Key Resistance near 1.7250-1.7300
🔹 Bearish Engulfing Candle forming on H1/H4 timeframe
🔹 50 SMA Crossing Below 200 SMA = Bearish Momentum Confirmed! 🔥
🔹 RSI Showing Bearish Divergence → Momentum weakening!
🎯 Target Zones for the Short: ✅ TP1: 1.7100 (Key support level)
✅ TP2: 1.7000 (Major psychological level)
🚨 SL: 1.7350 (Above recent highs)
GBPCAD Wave Analysis – 10 March 2025
- GBPCAD rising inside minor impulse wave 3
- Likely to reach resistance level 1.8800
GBPCAD currency pair continues to rise inside the minor impulse wave 3, which belongs to the sharp intermediate impulse wave (3) from last year.
The price earlier broke through the key resistance level 1.8230 (a former multi-month high from December) –which accelerated the active impulse waves iii, 3 and (3).
Given the clear weekly uptrend, GBPCAD currency pair can be expected to rise to the next resistance level 1.8800 (target price for the completion of the active impulse wave (3)).
GBPCAD buy trade the price is in up trend
after breaking the HH structure zone and complate the BREAKOUT phase I waited for the retest on the same broken zone
when the price made the retest I shifted to lower Tame frame to identify the structure (the structure on the Pulback phase)
my confirmation was at the break of the LL on the pullback phase so after getting it I took the trade .
GBPCAD: One More Wave Ahead?! 🇬🇧🇨🇦
GBPCAD is positioned to continue rising to new highs.
A bullish breakout of a neckline of the ascending triangle
pattern on a 4H time frame provides a strong trend-following bullish signal.
With a high probability, the price will reach 1.868 level soon.
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GBPCAD FORECASTTraders! We have started again the new trading week, which is looking very promising! It is early in the week and we need to be patient to wait for the structures to develop well. However when we look at the GBPCAD we can see it at the key area, we need to see if the market will allow us to capitalize. In this video, I've passed through all the important scenarios that we can take advantage of. Let's be patient and wait to see what price will offer
GBPCAD: Classic Trend-Following Trading SetupLook at the price movement of 📈GBPCAD.
Following a significant bullish movement, the price began to consolidate within a horizontal channel on a 4-hour chart.
The breakout above the upper boundary of the channel, signifies a strong bullish trend continuation.
The next level of resistance to watch for is at 1.8703.
SHORT ON GBP/CADGBP/CAD is rejecting a key supply area on the 15min after continuing to make (Lower Highs) on the Higher Time Frames.
There has been a change in market structure from Up to down on the lower timeframe signaling a possible drop.
GBP/CAD is highly over brought and I believe its ready to fall.
I will be selling GBP/CAD to the next swing low for about 100-150 pips. OANDA:GBPCAD
Fri 7th Mar 2025 GBP/CAD Daily Forex Chart Sell 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 Sell. Enjoy the day all. Cheers. Jim