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Gbpcadshort

GBPCAD Ascending Channel I am liking this Ascending Channel I expect it to make its way toward support, Could break below and go to 2nd major support, Which would also be the bottom of the Channel. The RSI is also signaling BEARISH DIVERGENCE. So we will keep an eye on that. I am reposting a rough chart I posted earlier because it was blocked for the reason of breaking the rules of this website. I put a link to my discord, which is not allowed. So here is a picture of the orignal analysis. This one I just reposted is cleaner anyway. Lol DONT MAKE A TRADE JUST BECAUSE A STRANGER ON THE INTERNET HAS A COMPELLING ANALYSIS> Make sure you do your own analysis The picture below is my original analysis. :)
Short
by Wickalodeon-GhostProductions
GBPCAD - Bearish BiasGBP - Strong Bearish 1️⃣ The Bank of England kept its interest rates unchanged in its November meeting, compared to market expectations for a 15 basis point hike. 2️⃣ Brexit concerns resurfaced when there was a threat that UK Brexit negotiator David Frost might trigger Article 16 (Northern Ireland Protocol). 3️⃣ UK GDP is expected to shrink in the third quarter following the decline in retail sales and trade balance during the period. CAD - Weak Bullish 1️⃣ WTI crude oil prices rose 1% on Monday amid hopes of a recovery in demand after the US approved a USD 1.2 trillion infrastructure bill last weekend. ===== Technical ===== We are looking to sell the GBPCAD on SBR levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
2
GBP/CAD:DOWNTREND|PRICE ACTION| SHORT SETUP...Bank of Canada, Macklem: We may raise the rate sooner than previously thought. Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
5
GBPCAD - Bearish BiasGBP - Strong Bearish 1️⃣ The annual inflation rate in the UK dropped to 3.1% in September from 3.2% in the previous month, and lower than market forecasts. The decline in inflation could stop the BOE from raising interest rates this November. 2️⃣ The UK recorded a total of 38,740 cases of COVID-19 infection on Monday. 3️⃣ The Pound is pressed amid new discussions on the Northern Ireland Protocol. 🇨🇦 CAD - Weak Bullish 1️⃣ CAD remains supported by an increase in WTI crude oil prices. 2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts. 3️⃣ The annual inflation rate in Canada rose to 4.4% in September from 4.1% in the previous month, and beat market forecasts. ===== Technical ===== We are selling the GBPCAD after the price failed to break the resistance level. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia