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British Pound / Canadian Dollar

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GBPCAD trade ideas

Is the GBP/CAD Party Over?Rationale for a Short GBP/CAD Position A short GBP/CAD position might be considered under the following conditions: Diverging Monetary Policies: If the Bank of England adopts a more dovish stance compared to the Bank of Canada, it could weaken the GBP relative to the CAD. Weakening UK Economic Outlook: A slowdown in the UK economy, or a deterioration in economic indicators such as GDP growth or employment, could pressure the GBP. Rising Oil Prices: A sustained increase in oil prices would typically benefit the CAD, potentially weakening the GBP/CAD pair. Technical Indicators: Overbought conditions, bearish chart patterns, or negative divergences on technical indicators might suggest a potential downside in the pair. Cautions and Considerations While a short GBP/CAD position may appear attractive under certain conditions, it's essential to consider the following: Market Sentiment: Shorting against prevailing market sentiment can be risky. A sudden shift in market sentiment could lead to significant losses. Geopolitical Risks: Unforeseen geopolitical events can dramatically impact currency pairs. It's crucial to monitor global developments closely. Risk Management: Implementing stop-loss and take-profit orders is essential to protect capital and secure profits. Diversification: Consider diversifying your portfolio to mitigate risks associated with a single currency pair.
Short
by FtradeFXArabic
GBPCADBullish Trend: GBP/CAD is showing a bullish trend on the 4-hour timeframe, indicating a potential new upward movement through wave 5 of a higher degree impulse wave. Entry Strategy: Consider entering a buy position after a breakout above a key level or when the price completes a 50% to 61% retracement. Wave 4 and Trendline: Wait for wave 4 to complete and touch the ascending trendline. Confirmation: Enter a buy position after observing bullish rejection at the trendline.
Long
by forex_info
2
GBPCAD Technical Analysis! SELL! My dear subscribers, My technical analysis for GBPCAD is below: The price is coiling around a solid key level - 1.7720 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 1.7613 My Stop Loss - 1.7797 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
GBPUSDThe Bank of Canada cut its key interest rate by 25bps to 4.75% in its June 2024 meeting, as expected, and signaled that more rate cuts are to be delivered should inflation continue to slow as expected. The central bank noted it has stronger confidence that disinflation is converging toward the target of 2%, warranting a less restrictive policy stance. Both of the Bank’s preferred measures of underlying inflation moved to below the 3% threshold in April, and are expected to continue decreasing throughout the year along with the headline CPI. In the meantime, Canada’s first quarter GDP growth was softer than the levels expected by the BoC, and labor data pointed to a tightening job market, further warranting a response of more accommodative credit conditions. Still, the Bank noted that upside risks to price growth remained, magnified by uncertain geopolitical tensions and a relatively more hawkish Fed, raising question marks on how quickly the interest rate can fall.
Long
by murendi
GBPCAD - 4hrs ( Sell Trade Target Range 180 PIP )Pair Name : GBP/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t 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 ——————————— Bearish Reversal 1.77900 Bullish Reversal 1.75650 Area Reasons - Major Turn level - Fibo Golden Zone - Pattern Target - Quarter's High Area - Choch Zone / Majoe
Short
by GentleGoldenEngine
NEW TRADE; GBPCAD: ITF CURVE ANALYSIS (2D) - DOWNTREND✨ GBPCAD: ITF CURVE ANALYSIS (2D) ✨ (DOWNTREND) -SL @ 1.78887 (CONSERVATIVE) -SL @ 1.78276 (AGGRESSIVE) SLO2 @ 1.7815 ⏳ MO OR SSO @ 1.7805 - TRIGGERED/⏳ SSO2 @ 1.73188 ⏳ TP1 @ 1.65926 TP2 @ 1.5950 TP3 @ 1.55328 TP4 @ 1.48384 BLO1 @ 1.46716⏳ 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME MO = MARKET ORDER -SL = NEGATIVE STOP LOSS SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT NOTE: This trade is active. I freely went MO to ensure a decent entry while placing the others as listed above. Going to see if we can get this one as the R:R is well for me to take this risk. You will see an aggressive -SL and a conservative -SL. If you're wondering, I'm using both. Let's see how this plays out.. Intermediate time frames (4 hours to 6 day): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by oktane
GBPCAD: ITF CURVE ANALYSIS (12H) - DOWNTREND✨ GBPCAD: ITF CURVE ANALYSIS (12H) ✨ (DOWNTREND) SLO2 @ 1.75699 ⏳ SSO1 @ 1.74981 ⏳ (SET AS AN SSO - let price pass before setting) TP1 @ 1.73613 TP1a @ 1.7266 TP2 @ 1.71618 TP3 @ 1.7031 BLO1 @ 1.6996 ⏳ BLO2 @ 1.69233 ⏳ 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME PA = PRICE ALERT SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT NOTE: This pair is currently in an overall uptrend. However, the ITF (intermediate timeframe) shows us in a downtrend PB (pullback). For the professional trader, you know how to navigate this dilemma. For all else, ask your questions and I'll do my best to respond in a timely manner. Position size appropriately if you plan to take advantage of the opportunity. Intermediate time frames (4 hours to 6 day): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by oktane
GBPCAD: Fundamental and TechnicalDear Traders, On the one hand, Levels of tensions in Hamas-Israel conflicts has decreased. So oil markets started to be more secure thus the CAD had has problems to grow. At the same time, UK witnessed signs of grow for GBP! GBP surged and we are around top of a long-term channel and around a relatively strong level. On the other hand, we are seeing great momentum in the pair and also I'm not sure about good news in middle east. In conclusion, I have got my profits out of GBP. Now it's time to rest and see where the future is going. I'm waiting for a break out of weekly level to continue to long the pair. any strong bearish move that change the trend or any important news might change the direction of the trend.
Long
by AliSignals