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GBPCAD trade ideas

GBPCAD → False breakdown, where do we go from here?FX:GBPCAD is forming a false breakdown of trend support. Against the backdrop of the falling dollar, the pound sterling went into the rally phase, which is favorable for the currency pair. The fundamental situation is in favor of GBP and CAD against the dollar, which continues its rapid decline. As part of the correction, the currency pair forms a test of support without the opportunity to continue the downward movement. The maneuver ends with a false breakdown and consolidation above the level (inside the channel). The currency pair may continue the uptrend if the bulls hold the defense above 1.8144 - 1.823 Support levels: 1.81500, 1.79788 Resistance levels: 1.8233, 1.83796 Accordingly, based on the fact that we have an uptrend, a strong currency pair (on the background of a weak dollar) and a false breakdown of support, we can say that the price is not allowed down and it is worth considering an attempt to continue the uptrend. Regards R. Linda!
Long
by RLinda
1
Bullish bounce off 38.2% Fibonacci support?GBP/CAD is falling towards the support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.8286 Why we like it: There is a pullback support level that lines up with the 38.2% Fibonacci retracement. Stop loss: 1.8183 Why we like it: There is a pullback support level that lines up with the 61.8% Fibonacci retracement. Take profit: 1.8469 Why we like it: There is an overlap resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPCAD will Fly , All Confirmations are in the Bullish SideHello Traders In This Chart GBPCAD HOURLY Forex Forecast By FOREX PLANET today GBPCAD analysis 👆 🟢This Chart includes_ (GBPCAD market update) 🟢What is The Next Opportunity on GBPCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit 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
Long
by ForexMasters2000
GBPCAD Tests Bearish Trendline – Focus Shifts to BoC DecisionGBPCAD is currently respecting a well-defined descending trendline, showing multiple rejections and a sustained series of lower highs. The latest retest near 1.8460 was met with selling pressure, aligning with the broader bearish channel. Key Levels: Current Price: 1.8458 Resistance Area: 1.8470 – 1.8600 (trendline & previous highs) Support Targets: TP1: 1.8120 (key structure) TP2: 1.7980 TP3: 1.7900 (major support zone) Bearish Technical Confluence: ✅ Multiple rejections at trendline ✅ Lower highs & lower lows continue ✅ Potential reversal candlestick pattern forming ✅ Bearish breakout could accelerate toward 1.7980 📉 Fundamental Outlook – BoC Rate Decision in Focus (April 16) Market Sentiment Split: Initially, economists leaned toward a BoC hold, as recent data and trade optimism gave the central bank room to pause. However, March CPI undershot expectations, triggering increased speculation of a rate cut. Key Data Highlights: Headline CPI fell to 2.3% YoY vs 2.6% previously, well below the 2.7% forecast. Drop mainly due to gasoline and transport costs, which BoC may look through. Core inflation (median 2.9%, trimmed 2.8%) remains elevated, supporting arguments for a hold. Analyst Viewpoint: “We still marginally favor a BoC hold given the proximity to elections and resilience in core inflation, but our conviction is lower after the CPI miss.” – Knightley & Pesole, ING Market Reaction: Loonie sold off post-CPI, but analysts believe the sell-off may be short-lived if BoC surprises with a hawkish hold. Swap market odds of a cut rose to 45%, up from 33% pre-CPI. 🎯 Combined Technical + Fundamental Setup If BoC holds rates, expect CAD strength → GBPCAD could accelerate downward toward 1.8120 → 1.7900. If BoC cuts, GBPCAD may spike temporarily toward 1.8600, but downside pressure may resume unless accompanied by dovish forward guidance. 🛠️ Trade Plan: Sell Bias Below: 1.8470 Entry Trigger: Bearish confirmation or post-BoC rejection TP1: 1.8120 TP2: 1.7980 TP3: 1.7900 Invalidation Zone: Break and close above 1.8600
Short
by ultreosforex
GBPCAD - BUYSFor self journaling purposes only If you want to take the trade read the chart, it is self explanatory. I am waiting on a break and close of the resistance trend-line then retest to take a buy. Targeting 1.83963 at the very least. will protect position with trailing stop loss once in substantial profit. GBP is a safe haven for EU specially now with all of the geopolitical tension incited by tariffs. The pause does not really stop economic uncertainty until negotiations are afoot.
Long
by BetterBusinessBully
3
GBP/CAD at a crossroads: this key level could trigger the drop!My visual analysis highlights a strong multi-timeframe resistance zone (weekly and monthly) between 1.8662 and 1.8779, where price has reacted sharply multiple times. This area, marked in dark burgundy, signals a significant supply zone. Currently, price is trading back in the 1.8350–1.8400 region. Based on my note on the chart ("Looking for a short opportunity on H1"), I’m anticipating a potential short entry from lower timeframes—likely triggered by a structural break or bearish candlestick confirmation. 🔻 Bearish Scenario: If I get a short confirmation around the current area, I’ll be targeting the 1.7900–1.7677 demand zone (highlighted in deep blue), which has previously shown strong bullish reactions. The RSI is also showing signs of potential divergence or overextension, adding weight to the bearish thesis. 🟢 Alternative Scenario: If price decisively breaks above the 1.8780 monthly resistance, we could see an extended bullish move towards levels not currently visible on this chart. 📌 Operational Note: I’ll be looking for entry confirmations on lower timeframes (like H1), with valid reversal patterns or price action triggers, and will manage the position dynamically depending on how price behaves around the 1.79 zone.
Short
by EdgeTradingJourney
1
Pullback resistance ahead?GBP/CAD is rising towards the resistance which is a pullback resistance that lines up with the 127.2% Fibonacci extension and could reverse from this level to our take profit. Entry: 1.8372 Why we like it: there is a pullback resistance that lines up with the 127.2% Fibonacci extension. Stop loss: 1.8465 Why we like it: There is an overlap resistance that is slightly below the 161.8% Fibonacci extension. Take profit: 1.8227 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBP/CAD BULLS WILL DOMINATE THE MARKET|LONG Hello, Friends! GBP/CAD is making a bearish pullback on the 1D TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 1.841 level. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Long
by EliteTradingSignals
1
GBP CAD #0008 Long Swing Trade - The Trade is heavily reliant on Liquidity Pools (LP) that exist along the structures. - The main consideration for this trade limit order placement was due to exhaustion patterns portrayed by the last Weekly price action (large wick formation). - Moving to the 3-hour chart, there are number of reliable liquidity pools exist that could be the place of entry. - However, we have decided that the one with OrderBlock (OB) is the most reliable and promising, hence presenting us with an entry position for our limit order. - Within our 3-hour chart, we noticed interesting liquidity pools built up marked in "PURPLE" colour. - This Liquidity Pools presents Large liquidity to the Smart Money, ie, the Stop Orders of the General Markets participants. - We anticipate a liquidity hunt to occur in these areas, i.e. "Purple LP" - Placement of Buy order Limits has been made, and the LAST MONTH HIGH is made as the TP Target Price. - Entry is for Swing Trading, the duration of holding may pass 1 week.
Long
by NaimEdelweissFX
GBP/CAD – Price Hits Key Supply ZonePrice has now reached a key supply zone around the 1.8468 – 1.8500 level, a region where strong selling pressure previously caused a sharp drop. This area aligns with previous structure and volume imbalance, making it a critical zone to watch for potential rejection or reversal. We can observe: Strong bullish momentum leading into the zone Previous distribution and drop from this level Clean break of internal structure on the way up What to watch for next: Bearish reaction or confirmation candles from this zone could signal potential short setups A strong breakout and retest might invalidate the zone and open room for further upside This area deserves close attention — patience is key before committing to a trade. Wait for price action confirmation.
Short
by jshafx
Bullish bounce off pullback support?GBP/CAD has bounced off the pivot which has been identified as a pullback support and could rise to the 1st resistance which aligns with the 61.8% Fibonacci retracement. Pivot: 1.8091 1st Support: 1.7913 1st Resistance: 1.8417 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets