GBPCAD next possible moveWe are waiting for our asset to reach our action zone, and based on the reaction, we’ll decide on our next moves.ALWAYS WAIT FOR A CONFIRMATION TO SEE IF THE PRICE VALIDATES THE ZONE.
GBPCAD trade ideas
GBP/CAD Breaks Uptrend Line: Is a Downward Movement Imminent?The GBP/CAD pair has exhibited considerable strength since April 2024, climbing steadily until it reached key resistance at approximately 1.8070. This resistance area is close to the highest level seen since 2018, when GBP/CAD traded around 1.8400.
Following its engagement with resistance on the daily chart, the price began to show signs of exhaustion. On 12 November, the pair broke below its established uptrend line, indicating a potential reversal or, at the very least, a deeper corrective pullback in the short term.
Support and Resistance Context
Historically, once a support level is breached, it often transforms into resistance. Thus, the area where GBP/CAD broke the uptrend line may now act as a barrier preventing further price increases.
Resistance and Fibonacci Confluence
The breakout point of the ascending trendline now corresponds to the zone between the 38.2% and 50% Fibonacci retracement levels of the recent downward movement. This area, which previously provided support to the price, is positioned to play a vital role as resistance during any corrective phase.
Potential Selling Opportunity
The break below the trendline indicates a potential weakening in bullish momentum. A retracement to the 38.2% to 50% Fibonacci region would constitute a healthy correction, allowing sellers to position themselves at a key technical confluence.
This retracement area aligns with the prior breakout point of the trendline and coincides with a newly established resistance level, significantly increasing the likelihood of price rejection.
Sell Entry : A viable selling opportunity may arise if the price retraces to the 1.7870 to 1.7930 zone and displays signs of rejection, such as the formation of a Pin Bar or Engulfing candlestick pattern on the daily chart.
Target Projections : The initial target could be set at the recent low of 1.7700, with a further extension down to 1.7300, where the price may find new support. Notably, the 1.7300 level represents a crucial historical resistance that could now serve as significant support.
Stop Loss : A protective stop loss should be positioned above the 1.8070 level, the historical resistance, to shield against a potential reversal in the upward trend.
An alternative scenario
While the resistance observed on the daily chart is significant, traders should remain vigilant for a potential breakout above this level, as it could propel the GBP/CAD towards the next resistance target of around 1.8400. Additionally, the upcoming release of the Consumer Price Index (CPI) for the British Pound on Wednesday is a crucial factor to consider, as it may set the tone for future monetary policies in the UK.
If inflation comes in higher than anticipated, it could lead to a more restrictive monetary policy in the medium term. Should this occur, GBP/CAD might break through the resistance level and continue its upward trajectory on the daily chart.
In this scenario, a buying opportunity could materialise if the CPI data exceeds expectations and the price successfully breaks above the resistance level. An initial target for this trade would be the 1.8400 region, where the price may encounter additional resistance.
In Summary
GBP/CAD is at an important level in the daily chart, with both Buying and Selling possibilities depending on what comes next. From a technical point of view, a Sell opportunity can appear if the price respects the 1.7870 ~ 1,7930 region.
A buying opportunity could appear depending on Consumer Price Index data to be released on Wednesday and the breakout of a resistance level at 1.8200.
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GBPCAD Local Long!OANDA:GBPCAD is already making
A bullish rebound from
The horizontal support
Of 1.77155and we will
Be expecting a local
Bullish rebound !
GBPCAD BUY IDEACurrent Price: 1.77887
Sell Price: 1.77887
Buy Price: 1.77887
Take Profit (TP): 1.79842
Buy Stop: 1.78388
Stop Loss (SL): 1.76987
The price fluctuating within a range, which suggests a period of consolidation after recent movements.
The Stop Loss (SL) set at 1.76987 is a critical support level. If the price breaks below this level, it might indicate a further downward trend.
The Take Profit (TP) set at 1.79842 is the immediate resistance. If the price reaches and breaks above this level, it suggests a bullish breakout.
Current RSI Values: 50.79 and 50.48
RSI around 50 suggests that the market is in a neutral zone, neither overbought nor oversold.
You should watch for the RSI to move towards the 70 level (overbought) or 30 level (oversold) for potential reversal signals.
Consider entering a buy position if the price approaches the Buy Stop at 1.78388, indicating upward momentum.
Monitor for bullish candlestick patterns, such as the hammer or bullish engulfing pattern near this level, to confirm the entry.
Set a Stop Loss (SL) at 1.76987 to manage downside risk. This level acts as a safety net if the trade moves against you.
The Take Profit (TP) at 1.79842 provides a target level to secure profits.
Look for increased trading volume near the buy stop and take profit levels to confirm strong buying or selling interest.
GBPCAD: Enter a Buy Trade or Sell Below 1.7860Currently, GBPCAD is trading at 1.7970, and we're opting for a buy trade with a target set at 1.8110. If we’re considering a sell trade, we’ll need to keep a close watch for a break below the support level at 1.7860. This level is crucial because it indicates where buyers have previously stepped in to support the price. If the price drops below this level, it signals that the buyers may no longer be able to hold the price up, and that could be a good time for us to enter a sell position. In this case, our target for the sell trade would be set at 1.7710.
Developing inverse head and shoulder Pound Cad appears to have found support on a significantly higher timeframe low, yielding a potential pullback to the upside. However, stability under 1.77000 may continue downward pressure. Also, as long as price is above the mark, the pair may find bullish pressure.
GBPCAD Uncertain I wonder which way this will go, only time will tell and if we are just patient the markets will give us the opportunity
GBP/CAD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
GBP/CAD pair is in the downtrend because previous week’s candle is red, while the price is clearly falling on the 1D timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 1.806 because the pair oversold due to its proximity to the lower BB band and a bullish correction is likely.
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GBPCAD – trading the range within an uptrend.. week of 18 NovTwo touches on either side constitutes a range and we see that in GBPCAD. The preceding move was bullish, but we have been in a range since late Sep. Price has been comfortably above the 200dma and this gives me a bullish bias. Current price at the bottom of the range is where a long trade makes most sense. If this works out as I anticipate, we should have a +3R trade.
I will add that I like the look of this chart, recent moves are strong and decisive. Note also how the small bullish candles last week had relatively good volumes, while the larger bearish candles had relatively low volumes. Could the bulls possibly be taking over this market?
This is not a trade recommendation, it is merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
GBPCAD Will Go Higher! Long!
Take a look at our analysis for GBPCAD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.776.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.792 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPCAD - BULLISH TRADEPrice has started moving in advancing phase with bullish divergence further indicating continuation of advancing phase.
Ascending triangle is also formed which is a bullish continuation pattern.
Entry will be at the breakout of Higher high.
At this point, buyers will remain in control.
Stop loss is below Higher low.
GBPCAD possible movement. Wait for the price to tap in our last demand zone followed by the imbalance then enter with the buys
GBPCAD RE TESTINGThe potential downtrend in the GBP/CAD currency pair may be influenced by several critical factors. The Bank of Canada's relatively hawkish monetary stance, supported by strong economic data, contrasts with the Bank of England's cautious approach due to slowing UK economic growth. Declining global oil prices could limit the downside for the Canadian dollar, as Canada is a major oil exporter. On the technical side, GBP/CAD has recently tested key support levels, and failure to hold these levels may signal further bearish momentum.
GBPCAD 4hr LongGBPCAD
✅ 4hr Long ✅
💰ENTRY: 1.77755
👎STOP LOSS: 1.78356
TP TARGETS
⏰TP1
⏰TP2
⏰TP3
✅ 1. Weekly Time Frame: Price has been breaking bullish and trending above the 10, 50, 200 EMAs.
✅ 2. Daily Time Frame: Price has been breaking bullish and trending above the 10, 50, 200 EMAs.
✅ 3. 4hr Time Frame: Price has made a valid correction into the 10 EMA.
✅ 4. Price has made a Swing Low Engulfing candle above the 50ema.
This is a great example of my systematic system.
GBPCAD: Free Trading Signal
GBPCAD
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long GBPCAD
Entry Point - 1.7794
Stop Loss - 1.7739
Take Profit - 1.7928
Our Risk - 1%
Start protection of your profits from lower levels
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GBPCAD 55hrs Trading Hrs ExpectationGBPCAD 4-Hour Chart Analysis
This chart shows a potential long setup on the GBP/CAD pair. After a recent downtrend, price appears to have found support near 1.7780, forming a potential reversal zone. A bullish entry was placed, with a stop loss just below recent support at 1.7724 to manage risk. The target zone is around 1.7906, which aligns with a previous resistance level.
The risk-reward ratio for this trade suggests an opportunity for gains if the uptrend continues. Watching for price action confirmation in this zone to validate the reversal setup.
gbpcad longcad is week, so as the oil, as the oil countinues the bearish really the cad will also go down because both of these are related to each other... so after the bullish divergence on 4h we place the buy stop at the H1 lower high breakout and place our sl below the support. hope this trade will go accordingly inshallha ....
GBPCAD 1H forecastWe're in a bearish impulse sequence. We're in a wave 4 phase and expecting a wave 5 completion.
GBPCADWe have wycoff accumulation once price taps into our demand that lies in our gold zone with our fib we'll look for longs we could possibly go on a lower timeframe to get a greater RR
GBPCADTaking this intraday, pure price action..Buys for GBPCAD, I dont have alot to say about price action
