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CANADIAN DOLLAR / BRITISH POUND

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CADGBP trade ideas

Falling towards 61.8% Fibonacci support?GBP/CAD is falling towards the support level which is a pullback support that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.7694 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement. Stop loss: 1.7578 why we like it: There is a pullback support level that lines up with the 78.8% Fibonacci retracement. Take profit: 1.7868 Why we like it: There is an overlap support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
A possible good sell on GBPCADTrend lines have a magical power to them. And this is a very very interesting chart, in my opinion, especially, for sell entries. Once again, yes, there is a massive up trend. I know. Any one can see that. But what about reversals, trend changes, pivot moves, etc. I believe trend lines and horizontal levels must be the guiding light for us on the tumultuous surface of the ocean of Forex trading. Yes, yes, yes, the price can go upwards from here on. Of course, yes, because it is GBP after all which is the queen of base currencies, I would say, but those trend lines have the magical powers to them. Remember that! Coming to the setup itself :-) if the price breaks below a trend line, espeically, on the lower time frame, a possible break out is probable, on the upside or to the lower side, whichever the case may be. On this chart, if the price breaks below a trend line, wait for it to go back up to it to retest it, and enter there. At the same time, the price can also bounce off the trend lines just like horizontal levels. Watch out for that as well. Risk is always there. Risk will always be there. Life is risky, as they say. You are not getting out alive, any way!
Short
by RiffatNadeem
Analysis of GBP/CAD: Price Falls Below 1.800 LevelAnalysis of GBP/CAD: Price Falls Below 1.800 Level In the first nine months of 2024, the GBP/CAD exchange rate rose by over 7%, surpassing the significant 1.800 level. The last time GBP/CAD remained consistently above this level was back in 2016, but it later dropped below. Since then, bulls have made two attempts to push the price above 1.800: in 2018 and again in 2020 (during the coronavirus panic) – both of which failed. A third attempt occurred when GBP/CAD climbed above 1.800 in September 2024, but yesterday’s large bearish candles (marked with an arrow) suggest that this attempt to stay above 1.800 may also fail. Yesterday’s decline in GBP/CAD was driven by a combination of factors, including: → A rise in oil prices, which strengthens the Canadian dollar as Canada is a major exporter of oil; → A slowdown in manufacturing activity in the UK during September, as reported by Reuters. Technical analysis of the GBP/CAD chart shows the price is moving within an ascending channel (marked in blue), which has remained relevant since the start of 2024. Support levels for the price could be → The 1.78500 level (which acted as resistance from mid-July before being broken in September); → The median line of the ascending channel; → The orange trendline. However, it is possible that these support levels may not be strong enough to ensure that GBP/CAD can consistently hold above the 1.800 level, which has historically acted as key resistance. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
GBPCAD Long Pullback TradeGBPCAD Long Pullback Trade We rejected our HTF pullback zone and then returned above. Multiple confirmations on H4 - price rejected area between 50 and 100 MA, long-term support rejection, previous day low rejected. Stop Loss below the recent low: 1.78851 Take Profit: 1.79819 1. R:R 1:1, 0.5% Risk 2. After reaching TP closing half and moving SL to Breakeven 3. Trailing the rest with market structure on M15 later H1 - Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal. - Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits. *No important news for GBPCAD today*
Long
by Marteyfx
Long GBPCADHere there are multiple confluence for this trade. Fundamental factors: Market sold off aggressively due to the IRAN missle attacks. When situation like this happens market tends to overshoot. So trying to get the retracement. Techincal Factors: It created a multi day double bottom patern. RSI is also created a bullish divergence which shows that price might make a reversal. Trade Management: Although in the chart I am aiming for 2R. I will close half the position in 1R and close the rest on TP level which is set at the top of the potential daily range based on the ADR.
Long
by ezfx07
GBPCAD is in the bearish directionHello Traders In This Chart nzdcad 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 Chart
Long
by ForexMasters2000