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Forex Analysis for GBP/CAD

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EUR GBP CAD: The prospects for growth of the euro and the pound are very vague, while the pressure on the Canadian dollar will continue.
EUR GBP CAD: The prospects for growth of the euro and the pound are very vague, while the pressure on the Canadian dollar will continue.
Relevance up to 08:00 2019-11-30 UTC+1 Another weak inflation data in Germany confirmed the existence of problems due to which the European Central Bank has to keep rates at zero and negative levels. According to the report, consumer prices in Germany in November this year declined more significa....
35
GBP/CAD formed a “shooting star”
GBP/CAD formed a “shooting star”
Trade idea SELL 1.7020; TP 1.6920; SL 1.7040 As we expected, GBP/CAD met resistance ahead of 1.7285 (100-month MA). On the W1, the pair formed a “shooting star” candlestick with a long upper shadow which closed below both the 200- and 100-week MAs. After such a twist, it’s reasonable to expect that ...
15
GBP/CAD is insatiable
GBP/CAD is insatiable
Trade idea BUY 1.7230; TP 1.7280; SL 1.7215 GBP/CAD has been rising since the start of September. In November, it has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area. This week the price is above the 100- and 200-week MAs at 1.71 and 1.7155 respectively....
16
GBP/CAD: technical levels
GBP/CAD: technical levels
Trade idea SELL 0.6810; TP 1.6700; SL 0.6835 Last week, the advance of GBP/CAD was contained by the 100-week MA at 1.71. On the D1, the pair closed yesterday below the 200-day MA at 1.6883. The pair has now room for a correction down to 1.6690 (September high) and 1.6640 (38.2% Fibo retracement of t...
2
GBP/CAD will be volatile
GBP/CAD will be volatile
Trade idea SELL 1.6490; TP 1.6430; SL 1.6510 BUY 1.6580; TP 1.6680; SL 1.6560 GBP/CAD made a huge leap to the upside yesterday and got above 1.65, but arrived at the resistance line from May. The odds are that Friday will once again bring the pair in motion: the market awaits Brexit-related news, wh...
2
GBP/CAD is ready to rock
GBP/CAD is ready to rock
Trade idea SELL 1.6180; TP 1.6060; SL 1.6205 Times are quite turbulent for the British pound. GBP/CAD has already retraced down 61.8% of the August-September advance. The price is now trying to stick to the 50-day MA in the 1.6230 area. Still, the Canadian dollar looks more attractive than the pound...
1
GBP/CAD is losing ground
GBP/CAD is losing ground
Trade idea SELL 1.6100; TP1 1.6060; TP2 1.5980; SL 1.6120 GBP/CAD tried to recover in August, but its progress wasn’t very impressive. A “Dark Cloud Cover” pattern was formed on the W1. The declining 50-day MA is providing resistance at 1.6255. The decline below the last week’s lows in the 1.6135 ar...
2
GBPCAD has been consolidating
GBPCAD has been consolidating
On H4 of GBPCAD, the pair has been trading sideways. It gives traders an opportunity to wait and enter the market at good levels. If the pair breaks above 1.6028, we can anticipate a further rise towards 1.6061. Otherwise, if the support at 1.5968 is broken, the pair will move down. The short may be...
31
GBP/CAD keeps plummeting
GBP/CAD keeps plummeting
Trade idea SELL 1.7045; TP1 1.6980; TP2 1.6855; SL 1.7070 The British pound continues its broad decline. No matter what the economic figures from the UK look like, the GBP is under the heavy weight of Brexit. Cross-party Brexit talks collapsed, more and more people talk about the likely resignation ...
5
GBP/CAD: a bearish pattern
GBP/CAD: a bearish pattern
Trade idea SELL 1.7335; TP 1.7200; SL 1.7355 GBP/CAD met the resistance of the 50-month MA in the 1.7765 area. On W1, the pair formed a bearish “dark cloud cover” pattern at the 200-week MA. The pound turned down from this line for the second time this year. This means that there’s significant selli...
5
GBP/CAD: how to bet against the pound
GBP/CAD: how to bet against the pound
Trade idea SELL 1.7620; TP1 1.7535; TP2 1.7445; SL 1.7640 GBP/CAD has been trying to break above the 200-week MA at 1.7735 for 4 weeks. However, for now, the resistance stands, not letting the pair get higher. The pound obviously needs some really cheering news about Brexit to jerk up. We can see th...
0
Trade idea for GBP/CAD
Trade idea for GBP/CAD
Trade idea SELL 1.7400; TP1 1.7350; TP2 1.7230; SL 1.7420 Last week GBP/CAD tried to rise to the 200-week MA in the 1.7750 area but then turned down and closed around 1.7460, below the highs of December and January. The weekly pivot point is at 1.7535, and as long as the pound is trading below this ...
0
What do the monthly charts say?
What do the monthly charts say?
Sometimes it’s worth analyzing big timeframes in order to get important trading hints. Below you will find some observations from the monthly charts that can provide you with trade ideas. Brent oil fell below 50-month MA that will now act as resistance at 57.00. If the price loses the support of 50....
111
Trading GBP/CAD
Trading GBP/CAD
Trade ideas SELL 1.7015; TP1 1.6960; TP2 1.6925; SL 1.7040 BUY 1.7115; TP1 1.7170; TP2 1.7240; SL 1.7090 Today the Bank of England will announce its statement at 15:00 MT time. Although it’s hard to imagine positive comments for the GBP, anything can happen. If you want to make use of the volatilit...
2
Trade the CAD ahead of the BOC meeting
Trade the CAD ahead of the BOC meeting
Traders like central bank meetings as they drive markets a lot. It doesn’t matter whether it is a rate hike or just clues on the economic conditions, the currency suffers a high volatility. The Bank of Canada will release the interest rate on October 24. The market is looking for the rate hike. As a...
8
NAFTA or Brexit: what influences GBP/CAD the most?
NAFTA or Brexit: what influences GBP/CAD the most?
Recent tensions between the US and Canada about the North American free trade agreement (NAFTA) renegotiations as well as Brexit uncertainties brought weakness to the Canadian and British currencies. As a result, GBP/CAD keeps struggling with turbulence following the speeches of government members, ...
6
GBP/CAD reversed from long-term support level 1.6600
GBP/CAD reversed from long-term support level 1.6600
GBP/CAD reversed from long-term support level 1.6600 Next buy target - 1.6900 GBP/CAD continues to advance after the earlier upward reversal from the long-term support level 1.6600 (which also previously reversed the pair November of 12017). The support area near the support level 1.6600 was strengt...
2
GBP/CAD broke strong support level 1.7040
GBP/CAD broke strong support level 1.7040
GBP/CAD broke strong support level 1.7040 Next sell target - 1.6880 GBP/CAD recently broke below the strong support level 1.7040 (which stopped the sharp downtrend in May, as can be seen from the daily GBP/CAD chart below). The breakout of the support level 1.7040 accelerated the active short-term i...
4
GBP/CAD reversed from support area
GBP/CAD reversed from support area Next buy target - 1.732 GBP/CAD recently reversed up from the support area located between the major support level 1.7040 (which stopped the sharp downtrend at the end of May) and the lower daily Bollinger Band. The upward reversal from this support area is set to ...
9
GBP/CAD targeting lower levels
GBP/CAD targeting lower levels
It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1.7255. Around that area, a pullback could happen in order to go towards the -...
2
AUD/USD falling inside minor impulse wave (c)
AUD/USD falling inside minor impulse wave (c)
AUD/USD falling inside minor impulse wave (c) Next sell target - 0.7500  AUD/USD continues to fall inside the minor impulse wave (c), which previously broke the key support level 0.7640 (which reversed the previous minor impulse wave (i) in last month) and the support trendline of the daily down cha...
4
GBP/CAD broke support zone
GBP/CAD broke support zone
GBP/CAD broke support zone Next sell target - 1.7400  GBP/CAD today broke the support zone lying between the key support level 1.7770 (which reversed the price with the daily Hammer earlier this month) and the 38.2% Fibonacci correction of the upward price impulse 1 from the start of January. GBP/CA...
2
GBP/CAD broke support zone
GBP/CAD broke support zone
GBP/CAD broke support zone Next sell target - 1.7720  GBP/CAD recently broke through the support zone lying between the round support level 1.8000 (former strong resistance from the start of March) and support trendline of the daily up channel from January. The breakout of this support zone accelera...
6
GBP/CAD broke resistance zone
GBP/CAD broke resistance zone
GBP/CAD broke resistance zone Next buy target - 1.8400  GBP/CAD recently broke through the resistance zone lying between the round resistance level 1.8000 (which reversed the price with the daily Evening Star at the start of March, as can be seen from the daily GBP/CAD chart below). The breakout of ...
5
GBP/CAD hovering inside a buy area
GBP/CAD hovering inside a buy area
The pair is consolidating the price action around the 200 SMA at H1 chart across the board and it’s facing a strong demand zone that could help to push it higher towards new highs. If the Fibonacci level of 65% at 1.7766 stays intact, GBP/CAD could rally to test the Fibonacci area of -23.6% at 1.814...
8
Short-term trading idea FX GBPCAD – looking up: W-model on the cards
Short-term trading idea FX GBPCAD – looking up: W-model on the cards
Trading opportunities on the currency pair: On the back of declining oil prices, I’m expecting to see the formation of a W-model with targets of 1.8428 and 1.9150. Buyers may retreat to 1.7436 before breaking through May's high (23% of the growth from 1.5837 to 1.7930) to provide themselves with a s...
36
Short-term trading idea FX GBPCAD – looking up: W-model on the cards
Short-term trading idea FX GBPCAD – looking up: W-model on the cards
Trading opportunities on the currency pair: On the back of declining oil prices, I’m expecting to see the formation of a W-model with targets of 1.8428 and 1.9150. Buyers may retreat to 1.7436 before breaking through May's high (23% of the growth from 1.5837 to 1.7930) to provide themselves with a s...
29
GBP/CAD reversed from resistance zone
GBP/CAD reversed from resistance zone
GBP/CAD reversed from resistance zone Next sell target - 1.7150 GBP/CAD recently reversed down with the daily Evening Star from the resistance zone surrounding the resistance level 1.7480 (which has been reversing the price from the start of June, as can be seen below). This resistance zone was furt...
8
GBP/CAD broke combined resistance zone
GBP/CAD broke combined resistance zone
GBP/CAD broke combined resistance zone Next buy target - 1.7490 GBP/CAD continues to rise inside the impulse waves 3 and (3) which previously broke trough the combined resistance zone lying between the resistance level 1.7150 and the 61.8% Fibonacci correction of the previous primary ABC correction ...
9
GBP/CAD looking to make a solid rebound
GBP/CAD looking to make a solid rebound
GBP/CAD has been starting the week within a range established by our Fibonacci projections across the board. The Fibo level of 50% at 1.6768 is acting as a demand zone and in case that the pair holds last Friday’s lows, it could point to test the -23.6% Fibo level at 1.7343 once it break above Novem...
4
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