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Gbpcadshort

GBPCAD - Bearish BiasGBP - Strong Bearish 1️⃣ The GBP is under pressure amid the fisheries crisis in Northern Ireland, although the UK will reportedly share a negotiation document on the protocol with the EU Commission this week. CAD - Strong Bullish 1️⃣ The CAD commodity-linked currency continued to be supported after crude oil prices hit a 7-year high of $ 80.31. 2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion. 3️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts. ===== Technical ===== We are selling the GBPCAD after it failed to break the resistance levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
1
GBPCAD - Bearish Bias🇬🇧 GBP - Strong Bearish 1️⃣ The GBP is under pressure amid the fisheries crisis in Northern Ireland, although the UK will reportedly share a negotiation document on the protocol with the EU Commission this week. 2️⃣ Risk-off sentiment weighing on the GBP. 🇨🇦 CAD - Strong Bullish 1️⃣ The CAD commodity-linked currency continued to be supported after crude oil prices hit a 7-year high of $ 80.31. 2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion. 3️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts. ===== Technical ===== We are selling the GBPCAD after it failed to break the resistance levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
GBPCAD analysisWe have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient. #TradeLikeMagnatrio
by Magnatrio
GBPCAD: Flow into ReversalThis is a lower timeframe description of how we can approach this pair in relation to my last related idea. Please ensure you understand our daily outlook before you proceed with this idea. I will be looking to clear the minor resistance before bouncing from the demand region down into our area of interest to buy from. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
by AlkalineFX
4
GBPCAD: Reversal PointThis pair gave a clear sell-off signal at the resistance point. If you understand order collection and liquidity you should have been able to ride this wave down without an issue. This leads us to our next question, where is the reversal point? Similar to the price action found at the resistance, we can expect this at the support region. I have illustrated the potential liquidity grab before we see retracements on the bearish move. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
Short
by AlkalineFX
7