GBP/CAD Up 16 Pips Over Past Hour, Moves Up For the 4th Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 24, 2022 1:42 GMT)

At the moment, GBPCAD’s rate is up 16 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

GBPCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPCAD is up 197 pips (1.24%) since yesterday (opening today near 1.6094), marking the 4th day in a row an upward move has occurred. Compared to its peers in the Forex, GBPCAD gave its buyers a return that ranked 5th in terms of percentage change since yesterday. Below is a price chart of GBPCAD.

GBPCAD

GBPCAD Technical Analysis

The first thing we should note is that GBPCAD is now close to its 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 252.7 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 10 out of the past 14 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 1 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.

Here is my potential idea for gbpcad Tell me your opinion