- Analytics
- Technical Analysis
GBP CAD Technical Analysis - GBP CAD Trading: 2020-08-31
GBP/CAD Technical Analysis Summary
Above 1,75
Buy Stop
Below 1,717
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
GBP/CAD Chart Analysis
GBP/CAD Technical Analysis
On the daily timeframe, GBPCAD: D1 approached the uptrend support line. It could not break it down and continues to grow. A number of technical analysis indicators generated signals for further growth. We do not rule out a bullish move if GBPCAD rises above its latest high: 1.75. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the last lower fractal, the lower Bollinger line and the 200-day moving average line: 1.717. After opening a pending order, we should move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop-loss, moving it in the direction of the bias. If the price meets the stop loss (1.717) without activating the order (1.75), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis of Forex - GBP/CAD
In this review, we propose to consider the British pound vs. the Canadian dollar. Is the growth of GBPCAD quotes possible? Such dynamics is observed with the weakening of the Canadian dollar and the strengthening of the British pound.
British GDP fell 21.7% at an annual rate in the second quarter. Canadian GDP contracted significantly more - by 38.7%. Overall, Britain’s economy fell less and is recovering more actively than Canada’s. In June, UK GDP grew by 8.7%, and Canadian - by 6.5%. Note that the possible success of the Brexit negotiations is a positive factor for the pound, while for the Canadian dollar, there is a risk factor in the possible correction of world oil prices that have been traded in a narrow range over a month
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Instant Execution
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
