GBP/CAD Price Recap
GBP/CAD is down 161 pips (0.91%) since yesterday (with its current price near 1.74978), marking the 3rd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 20.31% from the day prior, and up 65.46% from the same day the week before. Relative to other instruments in the Forex asset class, GBP/CAD ranked 26th yesterday in terms of percentage price change. Here is a price chart of GBP/CAD.
GBP/CAD Technical Analysis
The first thing we should note is that GBP/CAD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.