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GBPCAD trade ideas

GBPCAD INTRADAY sideways consolidation supported at 1.8516The GBP/CAD currency pair price action sentiment remains bullish, supported by the prevailing long-term uptrend. Recent intraday movements indicate sideways consolidation near the previous resistance level, which has now become a new support zone. Key Levels and Price Action The critical trading level to watch is 1.8516, representing the previous consolidation price range. A corrective pullback to this level, followed by a bullish rebound, could signal continued upward momentum. In this scenario, the pair may aim for upside resistance levels at 1.8720, 1.8780, and 1.8900 over the longer timeframe. Conversely, if the 1.8516 support level fails to hold and a confirmed daily close occurs below this level, the bullish outlook would be invalidated. This could lead to a deeper retracement, targeting the 1.8417 support level, followed by 1.8350 and 1.8285. Conclusion The sentiment remains bullish as long as the 1.8516 support level holds, with potential upside targets at 1.8720, 1.8780, and 1.8900. A confirmed breakdown below 1.8516 would shift the outlook to bearish, signaling a move towards 1.8417, 1.8350, and 1.8285. Traders should carefully monitor daily closing levels to assess potential sentiment shifts and trading opportunities. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
GBP/CAD The bias for GBP/CAD on the 4-hour chart is currently leaning toward a short position, with the expectation that the price will dip to retest a key demand zone before resuming its upward movement. This outlook is supported by recent price action, where the market has shown signs of consolidating below previous highs, indicating potential exhaustion of upward momentum. A pullback to the demand zone offers a logical opportunity for a price retracement, where buyers may step in and drive the price higher. We are watching for a potential reversal at this demand area, which could provide a favorable entry point for long positions, anticipating a strong rally once the price bounces from this key support level.
Long
by juanperez2383
GBP/CAD Bearish Setup📉 Bearish Outlook on GBP/CAD – Here’s Why I’m Shorting! 📉 🔎 Fundamental Analysis: CAD Strength Incoming? 1️⃣ Canada’s Economic Data Shows Mixed Signals Strong Ivey PMI (55.3 vs. 49.2 forecast) ✅ Weak employment numbers (-19.7k full-time jobs) ❌ 25% U.S. tariffs on Canada → CAD at risk, but sentiment still holds. 2️⃣ GBP Faces Headwinds BOE’s Dovish Stance keeps rate cut expectations on the table. UK economic growth concerns limiting GBP upside. 3️⃣ Risk Sentiment Supporting CAD If oil prices stabilize, CAD could gain further. Markets adjusting to trade war concerns—watch USD/CAD for clues! 📊 Technical Breakdown – GBP/CAD Short Setup 🔹 Price Rejected from Key Resistance near 1.7250-1.7300 🔹 Bearish Engulfing Candle forming on H1/H4 timeframe 🔹 50 SMA Crossing Below 200 SMA = Bearish Momentum Confirmed! 🔥 🔹 RSI Showing Bearish Divergence → Momentum weakening! 🎯 Target Zones for the Short: ✅ TP1: 1.7100 (Key support level) ✅ TP2: 1.7000 (Major psychological level) 🚨 SL: 1.7350 (Above recent highs)
Short
by FaithdrivenTrades
1
GBPCAD Wave Analysis – 10 March 2025 - GBPCAD rising inside minor impulse wave 3 - Likely to reach resistance level 1.8800 GBPCAD currency pair continues to rise inside the minor impulse wave 3, which belongs to the sharp intermediate impulse wave (3) from last year. The price earlier broke through the key resistance level 1.8230 (a former multi-month high from December) –which accelerated the active impulse waves iii, 3 and (3). Given the clear weekly uptrend, GBPCAD currency pair can be expected to rise to the next resistance level 1.8800 (target price for the completion of the active impulse wave (3)).
Long
by FxProGlobal
GBPCAD: One More Wave Ahead?! 🇬🇧🇨🇦 GBPCAD is positioned to continue rising to new highs. A bullish breakout of a neckline of the ascending triangle pattern on a 4H time frame provides a strong trend-following bullish signal. With a high probability, the price will reach 1.868 level soon. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VasilyTrader
2
GBP/CAD Technical AnalysisKey Trading Level: 1.8415 Bullish Scenario: The overall sentiment remains bullish, supported by a breakout above the longer-term prevailing upntrend. However, recent price action suggests a sideways consolidation near the key level of 1.8415. A bullish reversal from this level could resume the upward momentum, targeting 1.8550 as the next resistance, followed by 1.8600 and 1.8650 if the rally extends. Bearish Scenario: A confirmed loss of the 1.8415 level and a daily close below it would negate the bullish outlook, potentially shifting momentum to the downside. If this occurs, the next support levels to watch are 1.8356, followed by 1.8330 and 1.8300, where further selling pressure could emerge. Conclusion: The 1.8415 level remains a key pivot point for GBP/CAD’s next move. A sustained hold and rebound from this level would reinforce the bullish trend, while a breakdown below it could trigger a deeper pullback. Traders should monitor price action around 1.8415 for confirmation of the next directional move. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation