#GBPCAD:Last Idea +400 Pips Up! Here is second entryIn our last analysis, the GBPCAD currency pair showed a smooth move. The price hit support levels, which means it might keep going up. We think it’ll go up by about 600 pips and might reach the 1.90 area.
Since there aren’t many places to stop for this trade, it’s important to set take profit level
About British Pound / Canadian Dollar
The British Pound vs. the Canadian Dollar. This is one of the most traded pairs in the world. The Canadian Dollar, often referred to as the “Loonie”, is considered to be a commodity currency because of Canada’s heavy energy exports.
GBPCAD IS BULLISH OR BEARISH DETAILED ANALYSISGBPCAD is currently presenting a high-probability bullish setup after a textbook inverse head and shoulders formation on the 12H chart. Price is now hovering around 1.8457 and has just broken out above the descending trendline acting as neckline resistance. This structural shift, combined with clean
CHECK GBPCAD ANALYSIS SIGNAL UPDATE > GO AND READ THE CAPTAINEntry Zone: Around 1.84990 (current price level) ✅
Stop Loss: 1.85150❌
Take Profit 1: 1.84800✅
Take Profit 2: Not explicitly labeled, but visually it seems around 1.84680✅
Last Target: 1.84550✅
TECHNIAL ANALYSIS SATUP ✅
FALLOW RISK MANAGEMENT ✅
Bullish rise?GBP/CAD is reacting off the pivot and could rise to the pullback resistance that lines up with the 78.6% Fibonacci projection.
Pivot: 1.8469
1st Support: 1.8316
1st Resistance: 1.8741
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with
GBPCAD May Form a Broadening Wedge Ahead of BOC DecisionGBPCAD May Form a Broadening Wedge Ahead of BOC Decision
GBPCAD appears to be shaping into a Descending Broadening Wedge Pattern. The price hit strong resistance near 1.8400 and could continue moving lower, forming the C wave of the pattern.
The main driver for this setup is the upcoming Bank of
GBP/CAD Approaches Major Resistance – Potential Short OpportunitGBP/CAD is currently testing a resistance and round psychological zone 1.84996 - 1.85000, which has acted as a strong supply area in previous attempts. The pair has repeatedly failed to break above this zone, showing clear signs of bearish rejection via wicks and bearish engulfing candles.
Key Conf
Lingrid | GBPCAD pullback Creating BULLISH Opportunity FX:GBPCAD market is pulling back after making higher highs. On the current timeframe the market is bullish as well as on the daily timeframe. The price is heading toward the psychological level at 1.83000 and possibly lower border of the upward channel. If the price retests the support level and Tu
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Frequently Asked Questions
The value of the GBPCAD pair is quoted as 1 GBP per x CAD. For example, if the pair is trading at 1.50, it means it takes 1.5 CAD to buy 1 GBP.
GBPCAD is a minor currency pair, i.e. a popular pair that is not associated with USD. Such pairs are also called cross currency pairs.
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