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GBPCAD trade ideas

GBPCAD → Trend Change. The fall may continue to 1.710OANDA:GBPCAD breaks the uptrend, a bearish rally is forming and the price is testing local support. A break of the liquidity area will renew the sell-off against a weaker GBP and a rising CAD. Pound sterling is moving from accumulation to realization and downward distribution on the background of expectations that the UK central bank will start an earlier interest rate cut relative to the US Fed. The Canadian, on the contrary, is growing on the background of monetary policy tightening in the country. The resistance at 1.7336 plays a key role for the currency pair at the moment. A false breakdown (touching the SMA) is possible before the subsequent price drop, a breakdown of 1.7297 will strengthen the sell-off. Resistance levels: 1.7336, 1.7387, 1.7415. Support levels: 1.7297, 1.7228 I expect consolidation in the local range, which may turn into a phase of further decline. Key liquidity zones are 1.7228 - 1.7085. Regards R. Linda!
Short
by RLinda
1
Trade Signal for GBPCADDear Traders, We have identified a promising trading opportunity for the GBPCAD currency pair with clear entry and exit points. Here are the details of the trade setup: - Direction: Buy - Enter Price: 1.7313 - Take Profit: 1.73449667 - Stop Loss: 1.72725667 Our decision to suggest a Buy direction is based on thorough analysis using the EASY Quantum Ai strategy. This strategy incorporates multiple technical indicators and data points to increase the accuracy of our trading signals. Here are the key factors influencing this decision: 1. Uptrend Confirmation: Our technical analysis reveals a strong bullish trend on the GBPCAD pair. The pair has been consistently forming higher highs and higher lows, indicating a sustained upward momentum. 2. Support Level: The suggested Stop Loss at 1.72725667 is strategically placed below a significant support level, which has been tested multiple times in the past and has held firm, minimizing the risk of a downside break. 3. Resistance Test: The Take Profit target at 1.73449667 is positioned just below a major resistance level, providing a reasonable and likely attainable profit margin while avoiding overextending the anticipated bullish move. 4. Momentum Indicators: Key momentum indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), support a continued upward move, confirming the BUY signal generated by EASY Quantum Ai. We recommend entering this trade with confidence, adhering strictly to the suggested entry, take profit, and stop loss levels to manage risk effectively. Best regards,
Long
by ForexRobotEasy
Bearish drop?GBP/CAD is rising towards the pivot and could reverse from this level to the 1st support. Pivot: 1.73441 1st Support: 1.72280 1st Resistance: 1.74045 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.
Short
by ICmarkets
GBPCAD: DT Curve AnalysisThere is the possibility of a decline based on the recent breakout of a bearish pattern, as Price Action closed below the anchor @ 1.7348, creating a resistance level @ 1.7326. The RSI indicator being in overbought area may suggest a halt or reversal in the rise. If the downtrend analysis is correct, we might place a sell limit order at 1.7326 and a sell stop order at 1.7296. Price Action already reached TP1 so our next available levels for a Take Profit are listed as TP2, TP3, and TP4.
Short
by ProfessorCEWard
GBPCAD ShortPrice Action Trading Daily Bias Bearish Price broken through daily support level and formed a flag pattern towards the broken support (turn resistance) Price broken through the flag support trendline and also broken below the H1 support level. Price is seems bearish. Set a short trade at broken H1 support level confluence with Daily resistance level and close to broken support trendline. SL above the swing high in flag and TP at next daily support level with R:R 1:4 Fundamental GBP is bearish CAD is kind of neutral with no direction.
Short
by royschen07
GBPCADThis right here is the reason I preach patience so much and I will continue to do that for the rest of my trading career. It was one of the BIGGEST reasons that in my 8 years of trading that this year is my best. Trading isn't hard, the mental aspect and discipline side of it is. Look at that red arrow and and you can see where I entered, and after that it was nothing but drawdown and sideways movement. Regardless if I lose or win this trade I know what i'm risking and I know I followed my rules and stood patient even in drawdown. Not every trade will blow through your take profit and sometimes it'll take a trade a whole week to hit your stop loss. Regardless if you follow your plan it is a WIN
by themarketmafia
SELL GBPCAD for downtrend continuation STOP LOSS : 1.7363SELL GBPCAD for downtrend continuation STOP LOSS : 1.7363 There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) ..... The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Short
by BALE_FX
1
Bearish drop?GBP/CAD has reacted off the pivot which has been identified as a pullback resistance and could fall to the 1st support. Pivot: 1.73441 1st Support: 1.72280 1st Resistance: 1.74045 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.
Short
by ICmarkets
GBPCAD - 4hrs ( Sell Trade Target Range 280 PIP ) 🔻Pair Name : GBP/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ 🔻 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money 🔻Key Technical / Direction ( Short ) Type : Mid Term Swing ——————————— ✔️Bullish Break 1.74500 Area Reasons - Major Turn level / M - Choch Zone Break Out - Day / week High Break - inner Counter Trend - Visible range lvn - Fixed Range lvn - Trend Line Break ✔️Bullish Reversal 1.71200 Area Reasons - Major Turn level / D - Patttern Target - Visible Range Lvn - Bullish Control Zone - Counter Trend line - Fibo Golden 61.8 % - Quarter's Area
Short
by GoldenEngine
2
Forex Trading Signal: GBPCAD - BuyDear Traders, We have a new trading signal for the currency pair GBPCAD. Based on our analysis using the EASY Quantum Ai strategy, we recommend the following trade: Direction: Buy Enter Price: 1.73023 Take Profit: 1.73253667 Stop Loss: 1.72858667 Our forecast points toward a bullish trend for the GBPCAD pair for several reasons. Firstly, the market has recently shown strong upside momentum, breaking through key resistance levels which now act as new support levels. Additionally, there is positive economic data coming out of the UK suggesting an economic recovery, which provides strength to the GBP. On the other hand, the Canadian Dollar may face pressures due to fluctuations in oil prices and economic uncertainties. Our EASY Quantum Ai strategy has thoroughly analyzed historical price patterns, economic indicators, and market sentiment, leading us to predict that the pair is more likely to move upwards in the near term. Please ensure you set your Take Profit at 1.73253667 and Stop Loss at 1.72858667 to manage your risks effectively. Happy trading! Best regards, Your Trading Team
Long
by ForexRobotEasy
GBPCAD bearish continuation Current Price: 1.73218 Resistance Zone: 1.7330 to 1.7350 (highlighted in red) Support Levels: 1.7240, 1.7150, 1.7110 (highlighted in red) Overall Trend: Downtrend on higher timeframes (1-hour, 4-hour, and daily charts) Trade Setup Given the bearish trend and the resistance zone, the plan is to enter a short position when the price confirms a rejection from the resistance area (1.7330 - 1.7350). Entry Criteria Short Entry: If the price fails to break above 1.7330 and shows signs of reversal (e.g., bearish candlestick pattern or rejection wick) around this level. Targets First Target (T1): 1.7240 Second Target (T2): 1.7150 Third Target (T3): 1.7110 Stop Loss Stop Loss (SL): Above the resistance zone at 1.7360 Risk-Reward Ratio Ensure the risk-reward ratio is favorable, ideally at least 1:2. For example, if the stop loss is 30 pips, the first target should be at least 60 pips away. Trade Management Initial Entry: Enter short around 1.7320 - 1.7330. Stop Loss: Set at 1.7360 to account for false breakouts. Take Profit: Close a portion of the position at the first target (1.7240). Move stop loss to breakeven once the first target is hit to protect against losses. Close another portion at the second target (1.7150). Let the remaining position run to the third target (1.7110) with a trailing stop to maximize profits.
Short
by Rendon1
Trading Signal for GBPCAD: BUYDirection: Buy Enter Price: 1.73224 Take Profit: 1.73519667 Stop Loss: 1.72888667 We recommend entering a Buy position for the currency pair GBPCAD at the price level of 1.73224 , with a Take Profit set at 1.73519667 and a Stop Loss at 1.72888667 . This forecast is based on an in-depth analysis conducted using the EASY Quantum Ai strategy. Several indicators suggest a positive move: 1. Fundamental Analysis: The British Pound has shown resilience against the Canadian Dollar due to stronger economic data from the UK, including recent GDP growth and positive employment figures. Conversely, Canada's economy is facing pressure from declining oil prices, which negatively impact the Canadian Dollar. 2. Technical Indicators: Our analysis shows a bullish trend in the GBPCAD pair, confirmed by moving averages and the Relative Strength Index (RSI) signaling a potential upward movement. 3. Market Sentiment: Current market sentiment has been favoring currencies linked to stronger economies, and the UK is demonstrating robust economic recovery. Please execute this trade with due diligence and ensure you monitor the market for any sudden changes that may affect this signal.
Long
by ForexRobotEasy