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GBPCAD trade ideas

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
GBP/CAD Currency Pair – Technical AnalysisBullish Scenario: The GBP/CAD currency pair maintains a bullish outlook, supported by the prevailing longer-term uptrend. The recent intraday price action indicates a period of sideways consolidation near the rising support trendline. The key level to watch is 1.8356, which aligns with both the previous consolidation range and the trendline support. A corrective pullback that finds support at 1.8356, followed by a bullish rebound, could drive the pair higher toward 1.8500, with extended upside targets at 1.8550 and 1.8600 over the longer timeframe. Bearish Scenario: A confirmed breakdown below 1.8356, particularly with a daily close beneath this level, would invalidate the bullish outlook. This could lead to a deeper retracement, exposing support at 1.8330, with further downside potential toward 1.8300, signaling a shift in momentum. Conclusion: The overall trend remains bullish, but 1.8356 is a critical level for confirmation. Holding above this level strengthens upside potential, while a decisive break below it could open the door for further downside correction. Traders should closely monitor price action around this key support zone to determine 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
GBP/CAD Analysis – Key Levels & Trade Scenarios📊 Timeframe: Weekly (1W) | Current Price: ~1.8391 📈 Bullish Context: Resistance at 1.8391: Price is testing a strong supply zone (dark red area). A breakout above this level could open the door to further upside. Support at 1.8233 & 1.7677: 1.8233: Short-term support where buyers have stepped in. 1.7677: Major support level, previously tested multiple times. 📉 Current Outlook: Price has aggressively moved up, breaking through previous resistances. Approaching a critical resistance area, where rejection is possible. If a rejection occurs, a retracement toward 1.8233 or 1.7677 could be seen. 📈 Trade Setups: 🔼 Long (Breakout Play): Entry: Above 1.8400 with confirmation. Target 1: 1.8600 Target 2: 1.8800 Stop Loss: Below 1.8230 to avoid fakeouts. 🔻 Short (Rejection Scenario): Entry: Bearish rejection from 1.8391 with confirmation. Target 1: 1.8233 Target 2: 1.7677 Stop Loss: Above 1.8450. 📌 Final Thoughts: GBP/CAD is at a critical resistance; a breakout could lead to new highs. A rejection would confirm a pullback toward support levels. Key macroeconomic data may impact momentum and direction.
Short
by EdgeTradingJourney
1