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British Pound / Canadian Dollar

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GBPCAD trade ideas

GBPCAD corrective pullback The GBPCAD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend. Support Zone: 1.8720 – a key level from previous consolidation. Price is currently testing or approaching this level. A bullish rebound from 1.8720 would confirm ongoing upside momentum, with potential targets at: 1.8835 – initial resistance 1.8880 – psychological and structural level 1.8920 – extended resistance on the longer-term chart Bearish Scenario: A confirmed break and daily close below 1.8720 would weaken the bullish outlook and suggest deeper downside risk toward: 1.8680 – minor support 1.8640 – stronger support and potential demand zone Outlook: Bullish bias remains intact while the GBPCAD holds above 1.8720. A sustained break below this level could shift momentum to the downside in the short term. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
Sell GBP/CAD at top of rising channelThere is a lot of high impact data for both the CAD & USD pairs this week. GBP/CAD price action is at a very important area now and quite often in situations like this a false breakout is possible. Therefore I am selling the pair just before the top of the range and rising channel. Sell Limit : 1.8855 top of channel / strong resistance (false breakout) Stop : 1.8957 above top of channel Profit : 1.8650 strong support Risk 1 : 2 stop is 102 pips
Short
by ForexExpats1
GBP CAD long trade: Fundamental analysis In line with expectations UK employment data 'likely' keeps the BOE on a slow rate cut path. The CAD had strength yesterday, coinciding with a rise in the price of oil, giving the CAD what I believe was 'fake strength'. Particularly as calls are growing for a raster pace of BOC rate cuts. The obvious alternative here would be a USD short, but I like the fact the CAD had a 'pullback' yesterday. The risk to the trade is 'negative market sentiment', another rise in the price of oil, possibly US data or out of the blue BOC hawkish rhetoric.
Long
by johnelfedforexblog
GBPCAD / long scenario**Currency Pair:** GBPCAD **Structure Timeframe:** 4H **Trading Timeframe:** 1H **Entry Timeframe:** 15m **Overall Direction:** Bullish **Directional Scenario:** Mid-term timeframe is not aligned **Scenario Description:** Entry in a nested zone of the trading timeframe within the structure timeframe. If the orange trendline remains intact while testing the purple zones, a long position can be initiated in the purple zones with a stop loss below the blue zone. It is preferable for the opposing red zone to be broken before the price reaches the purple zone. Otherwise, for greater certainty, it is advisable to look for a confirmation signal on the 15m or 5m timeframe when the purple zone is being tested.
Long
by CrocCapital
GBPCAD bullish above support at 1.8720The GBPCAD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend. Support Zone: 1.8720 – a key level from previous consolidation. Price is currently testing or approaching this level. A bullish rebound from 1.8720 would confirm ongoing upside momentum, with potential targets at: 1.8835 – initial resistance 1.8880 – psychological and structural level 1.8920 – extended resistance on the longer-term chart Bearish Scenario: A confirmed break and daily close below 1.8720 would weaken the bullish outlook and suggest deeper downside risk toward: 1.8680 – minor support 1.8640 – stronger support and potential demand zone Outlook: Bullish bias remains intact while the GBPCAD holds above 1.8720. A sustained break below this level could shift momentum to the downside in the short term. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation