GBPCADPrice is trying to mitigate at some supply zones, as a lot of institutions are back today to the market they will try to place their positions in some important zones.
Expecting to see price rebounding and targeting 1.70600
Poundcad
Pound Canadian Short Position Trade - 2021The analysis is based off my unique approach to seasonal tendencies when Price is in a Ranging Market. Taking 2020 as the third year if we look back until 2017 you will notice how, during this period, the market has been repeating a pretty noticeable Fractal Pattern. Taking that into account l predicted a significant high to form on the Pound Loonie during First Quarter of 2021 which has happened so far.
I'm anticipating the low of this Year to come around Aug-Sep, sweeping the lows around the 1.67387 level and finally taking out the Low created in March of 2020.
The Canadian Employment Numbers came in positive for the Loonie @259.2K far larger than the forecast of 75.0K, this occurrence might just be the Fundamental confluence needed for my Technical analysis to pan out as anticipated.
GBPCAD Waiting For A Break Of Resistance To Get Back InI took profit on GBPCAD long after spotting that the daily has formed a resistance level.
Im going to wait for the market to break and close above before entering again, or if the market falls back to support I will wait and look for signs to get in at support, in the mean time im watching the market to see what its going to do next.
GBPCAD SHORT OPPORTUNITYBeing in a Bearish Market, we see Price Action showing us that if price breaks below our outlined swap level. An opportunity to continue short may arise after Breaking Support and having Reversal Candlestick Pattern Confirmation at the pull back is a simple but very consistent strategy to find trend continuations.
Support turns into Resistance, Resistance turns into Support - SWAP LEVELS
GBP/CAD ShortGBP/CAD Short in play. Clean Retest of Support Region. Looking for further decline to 1.7100
If We can sustain A Oil Rally Next week the CAD will appreciate relative to GBP/CAD
GBPCAD half the way, but 2 different targetsStill into the zone, but 2 different targets, it seems to be going lower before taking bulls and an interesting battle booming out though. If that's the case, a short position first.
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pound cad long to hit tp hi this is what I see at the moment pound cad still long and entering at this area here and to go to tp1 is my first target . we will adjust once this target is hit or not
Happy trading
Kris
pound cad long okay so looking at the four , daily and weekly I see a the bull are in charge on the long time frames
I s1ee the market continue to making good movements up
should be a good market to jump into once you see the correct at a low
Kris
happy trading
GbpCad - BofE Data Hints Further DeclinesLast weeks Bank of England data caused a sell off across the board in GBP pairs and as a result we look for further declines this week. A pullback and re-test of broken support turning resistance at 1.67971 will provide a great place to look for shorts down towards the target of 1.64165.
