GBPCADGBPCAD is in reversal mode
Bearish divergence also shown in RSI.
Market sentiment is also bearish.
We sell at CMP
CADGBP trade ideas
GBPCAD Wave Analysis 11 December 2024
- GBPCAD reversed from strong resistance zone
- Likely to fall to support level 1.8000
GBPCAD currency pair recently reversed down from the strong resistance zone located at the intersection of the upper daily Bollinger Band and the key resistance level 1.8100, which has been reversing the pair from September.
The downward reversal from this resistance zone stopped the C-wave of the previous ABC correction (B) from the end of November.
Given the strength of the resistance level 1.8100, GBPCAD currency pair can be expected to correct down to the next round support level 1.8000.
GBPCADGBPCAD is in reversal mode.
Bearish divergence also shown in RSI.
We wait for further confirmation..
If price break the last price then we will execute trade.
GBP/CAD SHORT FROM RESISTANCE
Hello, Friends!
GBP/CAD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.787 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
✅LIKE AND COMMENT MY IDEAS✅
Could the price reverse from here?GBP/CAD is rising towards resistance level which is a multi swing high resistance and could reverse from this level to our take profit.
Entry: 1.8094
Why we like it:
There is a multi swing high resistance.
Stop loss: 1.8242
Why we like it:
There is a resistance level at the 138.2% Fibonacci extension.
Take profit: 1.7912
Why we like it:
There is a pullback 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.
GBPCAD Analysis - Bearish - Trade 06GBPCAD Analysis Overview
---
1. Seasonality
GBP: Seasonality indicates a **sell** signal for GBP in the first week of December.
CAD: Seasonality suggests a **strong buy** signal for CAD.
Seasonality Bias: Sell GBPCAD
---
2. COT Report
GBP:
COT RSI: 52 weeks at 30%, 26 and 13 weeks at bottom.
COT Index: 3-year at 50%, 1-year at 30%, indicating weak positioning for GBP.
Net Non-Commercial: Decreasing, showing a bearish sentiment.
CAD:
COT RSI: 52, 26, and 13 weeks at 20% and increasing, showing bullish momentum.
COT Index: 3-year and 1-year at 20% and increasing, aligning with a buy sentiment.
Net Non-Commercial: Increasing, with a positive bias.
COT Bias: Sell GBPCAD.
---
3. Fundamental Analysis
Leading Economic Indicators:
GBP: Decreasing, signaling economic weakness.
CAD: Increasing, pointing to economic strength.
Endogenous Factors:
GBP: Decreasing, aligning with a sell sentiment.
CAD: Increasing, further supporting a buy stance.
Exogenous Factors:
GBPCAD exogenous signal indicates a buy CAD, sell GBP sentiment.
Fundamental Bias: Sell GBPCAD.
---
4. Technical Analysis
RSI Divergence: Bearish divergence identified, indicating potential downside movement.
Breakout Indicator: A red arrow confirms bearish momentum on key breakout levels.
Resistance Zone: Price is currently at a strong resistance zone, showing rejection patterns.
Technical Bias: Sell GBPCAD.
---
Final Bias: Sell GBPCAD
The alignment across seasonality, COT data, fundamental indicators, and technical analysis strongly supports a sell setup for GBPCAD.
GBP/CAD LONGSI think GBP/CAD has a good potential for more upside. The weekly and daily bother look great and having pulled into the daily support I was ready to look for entry. I took an entry based on a 1h confirmation but I still think there will be a bit of a pullback going into next week before getting the bigger push to the target
GBP_CAD MOVE UP AHEAD|LONG|
✅GBP_CAD keeps growing
A now we are seeing a bullish
Breakout of the key level
Of 1.8133 which reinforces
Our bullish bias and we will
Be expecting a further
Bullish breakout
LONG🚀
✅Like and subscribe to never miss a new idea!✅
GBPCAD - Long Market is forming AB=CD pattern
market is in accumulation phase, if it break the rectangle it can easily test the weekly strong resistance level
GBPCAD PLAYYED OUT AS WE PREDICTEDGBPCAD , did exactly as I predicted it. There no scam in the market. Just understand what the market is doing per time
GBPCAD bulls taking overAfter the bank of Canada cuts policy rates by another jumbo 50 basis points as expected.The market has re-traced to support zone at 1.79500 and the Bulls are taking over
Week idea for GBP/CADThe idea is that it is still bullish but it has to go down to lower point that's what I THINK will happen this week
Gbp/cad entry on buyTrend is up
Trend is oversold
Highee timeframe is up
It has made a double bottom
This trade would is a high probability set up
GBP/CAD correction after strong uptrendHi, dear investors our next opportuntiy we are looking into is GBP/CAD , as we can see it had a fantastic bullish trend and now it's time of a reversal because we got to the upper resistance level, so far the RSI has just began formulating descending channel after being over bought at 77 level.
Entry - 1.80560
Target 1: 1.79844
Target 2 : 1.79380
Stop Loss : 1.80950
Risk to reward ratio at the staggering 1:5!!!!
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my channel so you can follow up with me in private!
GBP/CAD ;Buy zone I'm looking for buys on GBP/CAD on this area because:
it's at the gold zone of the Fibonacci retracement
its where the trendline liquidity lies
it will be clearly over sold
overall trend is up
I would be looking for a confirmation though like double bottom or reverse head and shoulder.
it's a trade that I am also looking to scale in as I go into profit
GBPCAD Opportunity Presenting Itself Just have to be patientAs we navigate these pairs, it’s important that we take our time to thoughtfully develop our strategy. Currently, our time frames are aligned; however, we do need to see the price on the 4-hour chart turn bearish. This movement will help guide the price back to the daily area of interest (AOI).
Once we observe the price shifting back to a bullish trend, we will patiently await a pullback on the 4-hour chart. This will provide us an opportunity to analyze the lower time frames for a sign of strength (SOS) before proceeding with our trade. It’s essential to remember that exercising patience often yields the best results, and a more measured approach can lead to success.
