(Last Updated February 12, 2021 17:26 GMT)
At the time of this writing, GBPCAD’s rate is down -1 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPCAD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPCAD entered today at 1.75451, down 17 pips (0.1%) from the day prior. Relative to other instruments in the Forex asset class, GBPCAD ranked 29th the day prior in terms of percentage price change. Here is a price chart of GBPCAD.
GBPCAD Technical Analysis
The first thing we should note is that GBPCAD is now close to its 20, 50, 100 and 200 day averages, located at 1.7459, 1.7323, 1.7261 and 1.7203 respectively, and thus may be at a key juncture along those timeframes. Volatility for GBPCAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 16 out of the past 30 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPCAD; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Hey traders, here is the analysis for the GBPCAD. NOTE – Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.