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British Pound / Canadian Dollar

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GBPCAD trade ideas

GBPCADOn February 6, 2025, the Canadian dollar rejected a supply roof on 4hrs after January employment reports from both Canada tested positive the Canadian dollar The actual Canadian jobs data, released on February 7, showed that the Canadian economy added 76,000 jobs in January, significantly exceeding market expectations of 25,000. Canada's unemployment rate also edged down to 6.6%, which was better than the forecast of 6.8% The Canadian dollar gained 0.2% following the release of the jobs data and GBPCAD took a 4hr rejection at 1.78715 to close the day in gain.. This positive jobs report shrunk the currency swap market bets for a rate cut of 25 basis points in March to 58% from 72% earlier. Tiff Macklem the Governor of the Bank of Canada will need to learn from the bank of japan (boj)governor Kazuo Ueda on how he managed to change trade directional bias with strong economic policies.
by Shavyfxhub
GBPCAD High-Probability Trade: SHORT SETUP (Trend Continuation)🔹 Trade Type: Swing Trade / Trend Continuation 🔹 Entry Type: Limit Order (Pending Short Entry) 🔹 Confidence Level: High (80%+) 📉 SHORT ENTRY (SELL) Sell Entry: 1.78450 – 1.78550 (Unmitigated Order Block) Stop Loss: 1.79400 (Above Previous High & Unmitigated OB) Take Profit Targets: TP1: 1.77500 (First Major Liquidity Level) TP2: 1.77000 (Key Structural Target & Liquidity Pool) TP3: 1.76500 (Final Bearish Target) Risk: Reward Ratio: 5R+ (High-Probability Trade) Reasoning for Short Setup: ✅ HTF Bearish Confirmation (Daily BOS) ✅ 4H Order Block & FVG Resistance (1.78500 – 1.79000) ✅ Liquidity Grab at 1.81000 Before Drop (Smart Money Manipulation) ✅ Bearish Momentum & Trend Confirmation on All Timeframes ✅ Wyckoff Distribution in Play → Downtrend Continuation ✅ Strong Confluence Between Order Flow, Liquidity, and Market Structure
Short
by jibkhan111
GBPCADhe canadian data Statistics shows that Employment Change in The Canadian economy added 76,000 jobs in January Unemployment Rate: The unemployment rate edged down to 6.6%368. Comparison to Forecasts and Previous Data: The actual Employment Change of 76,000 significantly exceeded the forecast of 25.5K and was lower than the previous figure of 90.9K The Unemployment Rate of 6.6% was better than the forecast of 6.8% and a notch below the previous month's 6.7% Broader Context and Analysis: December 2024 saw an increase of 91,000 in employment, with the unemployment rate easing to 6.7% The December numbers were firmer than expected, although the unemployment rate was still up almost a percentage point from a year prior. In January 2025, the unemployment rate dropped again to 6.6%3. we take a bat canadian econmy and GBPCAD went in favour of CAD.
by Shavyfxhub
GBPCADTiff Macklem is the Governor of the Bank of Canada Bank of Canada Governor's comments on economic challenges: Macklem has stated that central banks face increasing challenges due to potential U.S. tariffs, technological disruptions, extreme weather, and global political upheaval. He acknowledges that while monetary policy can help with the short-term impacts of tariffs, it cannot solve every economic challenge. Macklem also mentioned the world is increasingly vulnerable to shocks amid higher long-term interest rates, slower economic growth, war and rising trade protectionism, as well as the rise of artificial intelligence technology and more frequent catastrophic weather events. The threat of new tariffs is causing major uncertainty. Potential Impact of Employment Data on CAD: Given that the Canadian dollar fell by 0.3 percent after the Bank of Canada's recent interest rate cut5, today's employment data could influence the CAD depending on whether the actual figures align with or deviate from the forecasts. Employment Change: If the actual Employment Change is significantly higher than the forecast of 25.5K, it could be seen as a positive sign for the Canadian economy, potentially leading to an increase in the value of the CAD. A lower figure could weaken the CAD. Unemployment Rate: If the Unemployment Rate remains stable or decreases, it could also support the CAD. However, an increase above the forecasted 6.8% might negatively impact the currency. Broader context: The Bank of Canada has been cutting its key interest rate since the middle of last year to spur spending and boost the economy. Trade tensions: The central bank's dilemma lies in the fact that US tariffs could potentially increase inflation—suggesting the need for higher interest rates—while simultaneously hindering growth, which could, in theory, necessitate more stimulus through lower rates.
by Shavyfxhub
1
GBP/CAD Reversal Play: Riding the Support Zone to Triple TPIn this setup, I identified a strong support zone on the GBP/CAD 4-hour chart, marked in green. The price action tested this support multiple times, confirming its validity. Observing the bullish rejection wicks and the consolidation around this level, I anticipated a potential reversal. I entered a long position at 1.78902, just above the support zone, ensuring a safe entry with confirmation of bullish momentum. My stop loss is placed slightly below the support at 1.77866 to protect against a false breakout while giving the trade enough breathing room. For my take profit strategy, I set three target levels aligned with key resistance points: Take Profit 1 at 1.79635 – This is the first resistance level, providing a conservative target. Take Profit 2 at 1.79966 – A mid-level resistance, offering a balanced risk-reward ratio. Take Profit 3 at 1.80379 – Targeting the upper resistance, maximizing potential gains if the bullish trend continues. OANDA:GBPCAD OANDA:GBPCAD
Long
by SCALPOO