GBPCAD - Long Trade Double bottom divergence indicates trend reversal.
Price has crossed up previous LH indicating bull trend ahead.
GBPCAD trade ideas
GBPCAD - Bullish Setup at Key Support ZoneThe GBPCAD pair is currently approaching a significant demand zone that has historically acted as a strong support level, leading to bullish reversals. The recent downward momentum brings the pair into this area, where buyers might regain control.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would indicate a potential upward move. If buyers step in, the price may head toward the 1.77424 level.
This setup suggests a possible short-term rebound in line with the broader market structure.
Analysis Idea: GBPCAD Long SetupThe GBPCAD pair is presenting a promising buy opportunity, supported by a weak Canadian Dollar and favorable technicals:
📊 CAD Bearish Drivers:
Weak Economic Data: Recent figures highlight a slowdown in Canada’s economic momentum.
Dovish BoC Policy: The Bank of Canada maintains a dovish stance, limiting CAD upside.
Global Risks: Broader market uncertainties weigh on CAD as a commodity-linked currency.
🎯 Trade Setup:
Uptrend: The market remains in an uptrend, providing bullish momentum.
Key Support: Strong demand zone around 1.75917 offers an ideal area for entry.
Targets: Watch for a move toward higher levels, with potential continuation in the uptrend.
⚠️ Risk Tip: Use a tight stop below the demand zone to protect capital while capitalizing on the bullish setup.
#Forex #GBPCAD #TradeIdeas
GBPCAD - Potential Buy From Key Support ZoneThe GBPCAD pair is approaching a significant demand zone, highlighted by prior price reactions and a strong historical support area. The market structure suggests the potential for a reversal at this level. The overall context indicates that buyers may take control, pushing the price higher.
I anticipate that if the price shows a clear rejection from the demand zone, the market may move upward toward the 1.77372 level. This setup aligns with the idea of trend exhaustion near support.
If you have any additional insights or agree with this analysis, feel free to share your thoughts!
Overlap resistance ahead?GBP/CAD is rising towards the pivot which acts as an overlap resistance and could drop to the 1st support that is a pullback support.
Pivot: 1.7824
1st Support: 1.7659
1st Resistance: 1.7979
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GBP/CAD is BullishUsing a htf chart we are still bullish with No gap to retrace or make a correction.
This pair needs diamond hands only .
Happy trading.
GbpCad Short biasFirst trade set-up of the week. I'm looking to short from 1.76637. that's my poi. Till we clear previous week low which is Monday low 1.74561
That zone is interesting cause it is within an old week imbalance. Hence price would always be moved by Imbalance and Liquidity.
Please boost if you find this insightful 🫴
GBP/CAD - over sold time to buy!Hi guys we are taking a look today in GBP/CAD - It reacehed extremely low and oversold levels on the RSI at 1H and 4H time frames, as we have seen a consistent dropped that happened.
Currently I am expecting a correction into the consolidation area to 1.76
Enry: 1.74750
Target: 1.7550
Target 2: 1.76430
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my community so you can follow up with me in private!
bulish trendIt seems that the price has reached a good area to climb, and with the available signals, a short climb can be expected
GBP/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GBP/CAD is making a bullish rebound on the 3H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.746 level.
✅LIKE AND COMMENT MY IDEAS✅
SellA rising wedge form on a high time frame wich is one of the reversal pattern we have .. Go to ltf and look for entry to swing
For the weakness of the pound and the move to lower pricesGiven the breakdown of the pound's support trendline and pullback zone, we can enter the sell position with risk control.
risk management
GBPCAD sell
GBPCAD FORECASTHello guys it is another beautiful day God has given to us. Today we have GBPCAD on watch and it is looking even more good. The price has reached a reversal area however the way it is looking like it give us the signal of a continuation, than a reversal. What we only need is to let the price give us confirmation before we make decision to execute.
GBPCAD Wave Analysis 16 January 2025
- GBPCAD reversed from strong support level 1.7490
- Likely to rise to resistance level 1.7700
GBPCAD currency pair recently reversed up with the daily Japanese candlesticks reversal pattern Hammer from the strong support level 1.7490, which has been steadily reversing this currency pair from the start of August.
The support level 1.7490 was strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward impulse from last April.
Given the strong daily uptrend, GBPCAD currency pair can be expected to rise to the next resistance level 1.7700.
GBPCAD may slide downGBPCAD might be preparing for the continuation of downtrend, and here's why:
Despite strong yields of UK Gilts (government bonds), British Pound is under pressure.
From a technical standpoint, GBPCAD is positioned far below the value area (combination between 20 and 50 moving averages), usually that indicates the price discovery process, when the instrument is trying to find the new equilibrium.
The 3-rd and 4-th day above the local low usually carries high risk of reversal, so I'm planning a short position in the direction of the next swing wave as shown on the chart.
Don't forget - this is just the idea, always do your own research!
GBPCAD is ready For a BuyHello Traders
In This Chart nzdcad HOURLY Forex Forecast By FOREX PLANET
today GBPCAD analysis 👆
🟢This Chart includes_ (GBPCAD market update)
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This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Chart
15-1 GBPCAD:it looks like the pair has hit a bottom. 1.75206 is a nice low that was also hit in November last year. Our signal system still gives a negative advice with a Score of -6. But we still go for a buy in the long term. A buy series that starts at 1.76700 with a sl at the bottom is a nice start. The inflation figures have improved. The COT, the GBP and the Interest Rates have also improved in favor of a long session.
GBPCAD buy trade The Relative Strength Index (RSI) is showing an upward trend, indicating increasing momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bullish crossover, further supporting the potential for an upward move
GBPCAD: Market Oversold with Potential for PullbackGBPCAD seems to be oversold after a recent decline, reaching a strong horizontal daily support level.
Following the test of this support, the pair entered a period of consolidation within a tight range on the 4-hour chart.
A recent breakout above the resistance of this range highlights buyer momentum and points to a potential pullback. The pullback target is set at 1.7691.
GBPCAD Scenario 1.1.2025According to the data we have available, it is possible that the market could move slightly up to the price level of 1.81500, since the market is forming as a range, it is quite likely to expect an SFP below the low and a subsequent move up to the aforementioned level. If it does not hold support at the level of 1.81600, it is possible that the market will move up even higher.
GBPCAD: Oversold Market & PullbackGBPCAD appears to be oversold following a recent decline, with the pair reaching a solid horizontal daily support.
After testing this support, the pair was consolidating within a narrow range on a 4-hour time frame.
The recent break of the resistance within this range indicates buyers strength and suggests a likely pullback.
The target for this pullback is 1.7691.
Yesterdays TradeTOOK this yesterday using three indicators
- Rejection of 50 EMA, show by heavy bottom wick
- Overall trend on higher time frames show bearish trends
- Takes zone, tests and rejects
Was quite lucky with the engulfing wick.
Posting an idea for todays trade, not sure about taking it but will share anyway
