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Gbpcadshort

GBPCAD Pin Bar On Daily Chart? GBP still strong? 47 Week High!Is that a Pin Bar on GBPCAD Daily Chart? GBP still strong? 47 Week High! Is a new 52 week high the next victim here? Some interesting Price action here now midweek across the GBP Pairs. There is still so much time left in the day to trade, However there is NO DOUBT that many traders will be eyeing the current price structure of this pair and its current appearance on the DAILY CHART which Clearly looks LIKE A PIN BAR is forming, But remember again there is still plenty of trading hours left in today for that Candle to really change its appearance by the time the day ends. Our CURRENCY HEAT MAP has called GBP strength up until now which has clearly been working for this month of February. Maybe its time for GBP to catch it breath having had such a run after the past few weeks. CAD is still MID range and the Commodity CUREENCIES have remained bullish overall for several weeks so GBPCAD may not be the optimal GBP trade at the moment unless in fact you want to be trading the RETRACEMENT as a MEAN REVERSION trade back to an obvious area of value where the bulls may come back in for another charge higher. Whichever side you decide to trade the main thing here is to remember where large POOLS of LIQUIDITY remain on the chart. On the bullish side the 47 WEEK HIGH is a clear point and we have seen a strong reaction therefore if this is to go higher the 52 WEEK HIGH is a clear and obvious location. Alternatively January 29 high @ 0.7640 if revisited will clear a lot of MONEY as the TREND LINE LONG TRADERS stops would have been cleared and the multi hour CONSOLIDATION under 0.7650 will be cleared too.
Long
by seekingpips
GBPCADGBPCAD SHORT Confirmation list 1- While price was consolidating confermed a very strong support. 2-The price broke the support area without retesting , retesting is happening now so i expect everyone to sell gbpcad below the previous support. 3-I feel so confident that everyone's sl is gonna be above this area so i expect the marketto take everyone out, retest the poi candle and 88.60 fib and then reverse. 4-IMB to be filled 5- This is just my vision scenario and im gonna enter only if i see the right price action on smaller timeframe.
Short
by Crifx
GBPCAD Looks Good After a Lower OpenAfter opening lower than Friday's close GBPCAD has made a nice run back up to the bottom of its 2 day range. Now that those lows have been swept, I expect that there is opportunity for the pair to go on a nice run. From a fundamental aspect, The Pound has taken a breather after a rather dominant 2020 however, paired against the Canadian dollar I expect for it's strength to continue with new Oil regulations specifically coming into the US, impacting the broader North American Economy. Theses regulations will likely continue cause disruptions in the economy worldwide in the next few months, however based on the fact that Canada will receive direct impact, they are a lot more susceptible to weaker currency comparative to that of Britain whose primary oil provider is Norway.
Long
by crawfordpaul
GBPCAD: Is the price going to BREAK soon its MAIN TRENDLINE?Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : GBP/CAD ⚪ Technical Analysis : Since the 20th of January 2021, the price has been moving with a clear uptrend, reaching a strong weekly resistance zone at about 1.76500, that rejected the price many times in the past. On the level, the price got a rejection and it is currently on a daily S/R zone at about 1.74300, very close to its main trendline. The next price action around that zone will be essential to understand the next market movement. 🔴 Conclusion : In the past, the price reached many times its strong weekly resistance at about 1.76500, getting a strong and quick rejection on that level. I'm confident to see the price breaking through its S/R zone at 1.74300, continuing its bearish movement until its next support zone. I'll be waiting for the breakout of the main trendline before planning my short position on this trade. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
15
GBPCAD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
2