GBP/CAD 1H Chart: Channel Down The British Pound is losing value against the Canadian Dollar in a two day long descending channel. The pattern was shaped by a reaction on release of information on the UK CPI and Average Earnings Index. At the moment, the currency pair struggles to pass through the support level set up by the weekly S3 at 1.6268. ...
GBP/CAD 1H Chart: Pennant The British Pound is trading against the Canadian Dollar in a pattern similar to pennant that started to form after a six-hour depreciation of the Sterling by 0.69%. Traditionally, pennants themselves are made of symmetrical triangles, but this time it made of an ascending triangle. From the triangle’ point of view, the...
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've been obsessed with Canadian Dollar pairs. If this Forex pair does break the graphed line, it may possibly dip to the 1.59500 area.
This is my current view on GBPCAD . I think the whole downtrend is a corrective structure. Let's see!
At the bottom of the long-term channel it will complete a Bullish Bat Pattern that can push the price to higher. remember the trend is down so we need a strong trigger to go long
Bullish Bat Pattern nearing Completion. Point D sits at the 61.8% retracement. Volume is starting to decline as prices move downward indicating that bulls might enter at any moment. Notice as well that right below the D point is Monthly and Weekly resistance (broken line) levels. We also have RSI showing bullish convergence signal.
Been in consolidation for too long. Maybe we can see a shorting opportunity in the long-run
GBP/CAD can possibly break it's support and continue it's bearish trend 300 pips down. At the moment being the support is not strong and the chances of it breaking even further down are favorable. Invest after your own analysis and money manage properly. Happy trading!
On the daily time frame GBPCAD is forming an awesome bullish setup. It has diverged itself from the lower range by moving sideways and has now created a new lower range on which its trading now for a while. The Stoch indicator is showing buying pressure is increasing. The indicates that finally soon the price will go up again towards the upper range. TP: ...
My current view on GBPCAD
GBPCAD GBPCAD Long Opportunity, please watch strong support level for reversal or breakout.
There is a possibility that GBP/CAD may go down more than 300 pips to find back support. If it does break it's current support, then do not hesitate to short it till it finds it's next one. Always make your own analysis before investing as well as money manage properly! Happy trading!
The GBPCAD reversed course last month after an aggressive downtrend that took the pair 5,200 pips lower in just over a year. While there’s no guarantee the selloff has ended, last week’s close above 1.7540 was a sign that buyers are back. The 1.7540 area has been a crucial factor for the pound cross. It dates back to 2008 but is better known as the level that...
As seen in chart, Traders Dynamic Index is indicating by the Weekly chart that the market has been oversold and is already turning uptrend (as seen by the drawn trendline cross (considering the indicator trend start signal too). This is my analysis on Weekly Time frame chart for overall future move. Will also show lower time frame analysis.
Highly likely trend start to the upside. No trade setup = Only Analysis while including resistance lines.
Hey Guys, We could get a brakeout or one more up before breakout. Watch for these moves! - Hola Chicos, Podríamos tener ya ruptura o uno más arriba antes de dicha ruptura. Estad al tanto! Carlos