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GBPCAD trade ideas

GBPCAD BUY IDEACurrent Price: 1.77887 Sell Price: 1.77887 Buy Price: 1.77887 Take Profit (TP): 1.79842 Buy Stop: 1.78388 Stop Loss (SL): 1.76987 The price fluctuating within a range, which suggests a period of consolidation after recent movements. The Stop Loss (SL) set at 1.76987 is a critical support level. If the price breaks below this level, it might indicate a further downward trend. The Take Profit (TP) set at 1.79842 is the immediate resistance. If the price reaches and breaks above this level, it suggests a bullish breakout. Current RSI Values: 50.79 and 50.48 RSI around 50 suggests that the market is in a neutral zone, neither overbought nor oversold. You should watch for the RSI to move towards the 70 level (overbought) or 30 level (oversold) for potential reversal signals. Consider entering a buy position if the price approaches the Buy Stop at 1.78388, indicating upward momentum. Monitor for bullish candlestick patterns, such as the hammer or bullish engulfing pattern near this level, to confirm the entry. Set a Stop Loss (SL) at 1.76987 to manage downside risk. This level acts as a safety net if the trade moves against you. The Take Profit (TP) at 1.79842 provides a target level to secure profits. Look for increased trading volume near the buy stop and take profit levels to confirm strong buying or selling interest.
Long
by sicmine
GBPCAD: Enter a Buy Trade or Sell Below 1.7860Currently, GBPCAD is trading at 1.7970, and we're opting for a buy trade with a target set at 1.8110. If we’re considering a sell trade, we’ll need to keep a close watch for a break below the support level at 1.7860. This level is crucial because it indicates where buyers have previously stepped in to support the price. If the price drops below this level, it signals that the buyers may no longer be able to hold the price up, and that could be a good time for us to enter a sell position. In this case, our target for the sell trade would be set at 1.7710.
Long
by FXTradingAnalysis
GBPCAD – trading the range within an uptrend.. week of 18 NovTwo touches on either side constitutes a range and we see that in GBPCAD. The preceding move was bullish, but we have been in a range since late Sep. Price has been comfortably above the 200dma and this gives me a bullish bias. Current price at the bottom of the range is where a long trade makes most sense. If this works out as I anticipate, we should have a +3R trade. I will add that I like the look of this chart, recent moves are strong and decisive. Note also how the small bullish candles last week had relatively good volumes, while the larger bearish candles had relatively low volumes. Could the bulls possibly be taking over this market? This is not a trade recommendation, it is merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Long
by Trading_Vista
4
GBPCAD Will Go Higher! Long! Take a look at our analysis for GBPCAD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.776. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.792 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPCAD RE TESTINGThe potential downtrend in the GBP/CAD currency pair may be influenced by several critical factors. The Bank of Canada's relatively hawkish monetary stance, supported by strong economic data, contrasts with the Bank of England's cautious approach due to slowing UK economic growth. Declining global oil prices could limit the downside for the Canadian dollar, as Canada is a major oil exporter. On the technical side, GBP/CAD has recently tested key support levels, and failure to hold these levels may signal further bearish momentum.
Short
by edl75
GBPCAD 4hr LongGBPCAD ✅ 4hr Long ✅ 💰ENTRY: 1.77755 👎STOP LOSS: 1.78356 TP TARGETS ⏰TP1 ⏰TP2 ⏰TP3 ✅ 1. Weekly Time Frame: Price has been breaking bullish and trending above the 10, 50, 200 EMAs. ✅ 2. Daily Time Frame: Price has been breaking bullish and trending above the 10, 50, 200 EMAs. ✅ 3. 4hr Time Frame: Price has made a valid correction into the 10 EMA. ✅ 4. Price has made a Swing Low Engulfing candle above the 50ema. This is a great example of my systematic system.
Short
by angelvalentinx
GBPCAD 55hrs Trading Hrs ExpectationGBPCAD 4-Hour Chart Analysis This chart shows a potential long setup on the GBP/CAD pair. After a recent downtrend, price appears to have found support near 1.7780, forming a potential reversal zone. A bullish entry was placed, with a stop loss just below recent support at 1.7724 to manage risk. The target zone is around 1.7906, which aligns with a previous resistance level. The risk-reward ratio for this trade suggests an opportunity for gains if the uptrend continues. Watching for price action confirmation in this zone to validate the reversal setup.
Long
by Mustafe9_Mohamed
2
GBP/CAD Targets Decline as Price Breaks Below Kumo CloudGBP/CAD is emerging a double top pattern on the daily chart following an uptrend, signaling a potential trend reversal due to waning bullish momentum. Currently, the price is descending towards the 161.8% Fibonacci level at 1.76824, which coincides with the neckline of the double top pattern and serves as a critical support area. The break of this level is essential for confirming the pattern. Kumo Cloud Break and Ichimoku Analysis The price has also broken below the Kumo cloud, indicating a shift to bearish conditions and reduced buying power. If the price breaks the 161.8% Fibonacci level at 1.76824, subsequent support levels are at 1.75720 (200.0% Fibonacci) and 1.74523 (241.4% Fibonacci). Each of these levels can act as key points to assess the strength of the sellers and serve as strategic entry points for potential trade decisions. Alternative Scenario If the price fails to breach the 161.8% Fibonacci support and retraces upwards, it could target the resistance levels at 1.78611 (0.0% Fibonacci) and 1.79715 (61.8% Fibonacci).
Short
by Errante
Heading into overlap resistance level?GBP/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.7859 Why we like it: There is an overlap resistance level that lines up with the 38.2% Fibonacci retracement. Stop loss: 1.7926 Why we like it: There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement. Take profit: 1.7740 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