GBPCAD
GBPCAD 05-12 Pair : GBPCAD ( British Pound / Canadian Dollar )
Description :
Bullish Channel as an Corrective Pattern in Long Time Frame and Rejection from the Lower Trend Line. It has completed the " 1234 " Impulsive it can break the Previous Resistance Level to complete its " 5th " wave at Upper Trend Line
Entry Precautions :
Wait for the Proper Rejection
GBPCAD BUY ANALYSISFX:GBPCAD
Overall structure based on the weekly, daily, 4h is bullish. Price had made a pullback to 1.71042 daily support and managed to break above the 1.7150 1H key resistance and retested and support whilst simultaneously breaking the minor bearish structure on the 1h timeframe. a 15 min bullish engulfing candlestick was my confirmation to enter buys on GBPCAD
GbpCad hold or not to hold?Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
GbpCad at a key turning point ,to see more downside or continue its uptrend if it hold 1.71 band..let's watch and act accordingly.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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AhMaDrEzA | GBPCADThe analysis of the chart shows that the probability of a price decrease is more than a price increase, but considering that the bottom of the channel was not broken, my opinion is on the price increase.
But the strength of the upward trend has decreased and I don't expect the price to grow strongly!
My price target is 1.7148 and then 1.7281
We expect another falling wave for GBP/CADHello Traders
In our last GBP/CAD analysis, we predicted the bearish momentum and made 500-600 pips. after a long retracement, we expect another downward wave. it's too soon to judge because we don't have any solid confirmation yet. I guess "CAD" GDP data will clarify the road. However we feel bearish for GBP/CAD, and expect another 800-1100 pips drop in about two months or so.
Our technical view has been shown in the chart.
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Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
GBPCAD SellAs the eagerly awaited OPEC+ meeting approaches, whispers of potential production cuts among its members are gaining momentum, hinting at a strategic move to stabilize oil prices. In such a scenario, the prospect of a surge in oil prices looms on the horizon, and the GBPCAD pairing stands poised for a correction. The delicate balance between global oil supply and demand often has a direct impact on currency valuations, and traders are keenly observing how any decisions made during the OPEC+ meeting might ripple through financial markets. A reduction in oil production could send shockwaves through the energy market, subsequently influencing the dynamics of currency pairs such as GBPCAD, where fluctuations in oil prices often play a crucial role in determining exchange rates.
#GBPCADCurrently, it is around 50% of the previous Fibo, which can continue up to Fibo 38% of the support range of this correction, and then perform a corrective move up to the defined range where there is a compression, and finally, the correction is completed until the previous lag. Do a one-hour workout. Therefore, it is possible to enter a sell position if the candle is confirmed.
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