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Gbpcadsignals

#GBPCAD 1DAYGBPCAD (British Pound / Canadian Dollar) Timeframe: Daily (1D) Pattern: Channel A descending price channel has been identified on the daily chart of the GBPCAD pair. This pattern is defined by two parallel trendlines—one acting as resistance (upper boundary) and the other as support (lower boundary)—with the price moving within these boundaries. The channel is sloping downward, indicating a bearish trend as the pair forms lower highs and lower lows. Forecast: Sell Based on the ongoing channel pattern, a selling opportunity is forecasted. The price is expected to continue moving lower within the confines of the channel, potentially offering an opportunity for traders to short the pair as it approaches the upper boundary. Technical Outlook: Resistance Zone: The upper boundary of the channel, where selling pressure may increase. Support Zone: The lower boundary of the channel, which could act as a target for the downside movement. Key Levels to Watch: A break below the lower boundary of the channel would signal further bearish momentum and could lead to a stronger sell-off. Traders may look for bearish signals, such as rejection from the upper trendline or volume spikes during price declines, to confirm entry points. External factors like commodity prices (oil, as CAD is commodity-sensitive) and economic data releases should be monitored, as they can impact the movement of this pair.
Short
by PIPSFIGHTER
GBPCAD Waiting for the 1D MA200 to confirm the bottom.The GBPCAD pair broke this week below its 1D MA50 (blue trend-line) and is (including today) on a 2 day green streak. However this is technically not convincing for us to buy as despite holding the Internal Higher Lows trend-line, it is the 1D MA200 (orange trend-line) that has confirmed the major Higher Lows (bottoms) of the 11-month Channel Up. In fact, it was a similar Internal Higher Lows trend-line that broke on April 01 2024 and despite a short-term rebound, broke downwards to confirm a bottom on the 1D MA200. As a result, we are waiting for that ideal technical opportunity to long and target 1.8000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
GBPCAD About to test the 1D MA50. Sell opportunity.The GBPCAD pair is on the latest Bearish Leg of the underlying Channel Up (blue) pattern and is about to test the 1D MA50 (blue trend-line) for the first time since May 14. Once the 1D MA50 breaks, we expect a continuation of the Bearish Leg all the way to the bottom (Higher Lows trend-line) of the Channel Up. Since 2023, -2.66% to -3.08% pull-backs have been common on this pair. As a result, we are looking towards the minimum -2.66% decline, which gives us a Target of 1.71500 and will make a technical Higher Low on the Channel. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPCAD Sell the spikeThe GBPCAD pair gave us a solid short-term sell signal last time (January 29, see chart below): At the moment it is declining within a Channel Down pattern which emerged after the 6th rejection on the Resistance Zone. Having broken below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line), we are expecting a short-term rebound to price the new Lower High and fail on the 1D MA50 test as a Resistance. There is a strong Support confluence below, the 0.618 Fibonacci retracement level and Support 1 (1.67685), our Target is at 1.6700, marginally below those on the dashed Higher Lows trend-line, always above the 1W MA100 (red trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
GBPCAD Quadruple top on 1D?The GBPCAD pair delivered a solid buy trade last time we analyzed it (October 05 2023, see chart below), easily hitting the 1.71110 Target, on a structure rise: The price is now signaling a bearish call as it has been rejected on the Lower Highs trend-line that started on the July 17 2023 High. This is technically a Quadruple Top if it stays that way and naturally there is strong sell potential behind it. The natural support levels are the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), the latter of which is trading exactly on the Higher Lows trend-line, which is our first Target (1.6950). If the price closes below the 1D MA200 and Higher Lows trend-line, we will re-short and target the 0.618 Fibonacci retracement level, which is just below Support 1. What makes selling a stronger probability right now is the formation of a 1D MACD Bearish Cross, which has been a sell signal with 100% accuracy for the whole 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPCAD Waiting for a bullish extension confirmation.The GBPCAD pair has been trading within a Bullish Megaphone for the whole year and is about to test the 1D MA200 (orange trend-line). The recent rebound is taking place on strong technicals as it not only started on the 1W MA100 (red trend-line) but also after a 1D MACD Bullish Cross from oversold levels that we haven't seen since July 2019. If the 1D MA200 breaks and closes a 1D candle above it, the bullish extension will be confirmed and we will buy, targeting the 0.786 Fibonacci retracement level at 1.71110. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
GBPCAD Long Term BUYING Trading IdeaSep 13 Hello Traders In This Chart GBPCAD HOURLY Forex Forecast By FOREX PLANET today GBPCAD analysis 👆 🟢This Chart includes_ (GBPCAD market update) 🟢What is The Next Opportunity on GBPCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
GBPCAD Two break-out levels.GBPCAD reached the top of its multi-year Channel Down and got rejected, but found Support on the 1D MA50 (blue trend-line). Those two levels keep the price action neutral within a Triangle pattern. The 1W MA300 (red trend-line) is right above the Channel Down and is in our opinion the buy break-out level, where you should go long and target the upper Resistances. On the other hand, every time the 1W RSI broke below its MA (yellow trend-line), the pair dropped. This is our sell break-out singal, with which we will target the 1D MA200 (orange trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
GBPCAD The RSI hasn't been this oversold since 1985!------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- The GBPCAD pair has been on a strong yearly decline, especially as of late. The 1M (monthly) RSI is currently at 20.87, the lowest it has been since January 1985. That is a good enough reason of its own to buy the pair. There are striking resemblances with the early 2000s fractal. A rebound on the Channel Down pattern's bottom can push the price all the way to its top and the 1M MA50 (blue trend-line). Be ready to offset some risk though to complete a -24.85% decline, if the Channel's bottom breaks. ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇 👇
Long
by TradingShot
GBPCAD preparing a strong rally to the 1D MA200The GBPCAD pair broke above the 1D MA50 (blue trend-line) this week for the first time since February 24 and is consolidating. This is the first sign that the trend might be changing from long-term bearish to bullish. This is evident on the 1D RSI which has been on Higher Lows for months. The very same pattern was last seen in Q3/ Q4 2021. After the price broke above the 1D MA50 on November 26 2021 and got rejected, it posted an end-pattern rally to the 0.618 Fibonacci retracement level above the 1D MA200 (orange trend-line). As a result we are bullish long-term on this pair, targeting at least the 1D MA200. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1