GBPCAD

(Last Updated January 18, 2021)

Welcome to the news page for GBPCAD (GBPCAD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for GBPCAD

metric_name	reference_period	asset_name	asset_id	date	time	forecast
Canada Housing Starts	Dec 2020	Canadian Dollar	CAD	2021-01-18	13:15 GMT	227K
Canada Foreign Securities Purchases	Nov 2020	Canadian Dollar	CAD	2021-01-18	13:30 GMT
Canada Foreign Securities Purchases by Canadians	Nov 2020	Canadian Dollar	CAD	2021-01-18	13:30 GMT
United Kingdom BoE Haldane Speech	NA	British Pound	GBP	2021-01-19	18:00 GMT
United Kingdom Inflation Rate MoM	Dec 2020	British Pound	GBP	2021-01-20	07:00 GMT	0.2%

The Trend

On GBPCAD, there is currently an uptrend on the 90 and 30 day timeframes.

GBPCAD Moving Averages

GBPCAD’s moving averages tell a multi-facted story about its trend. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data. Moreover, it should also be noted that the 200 SMA just turned bearish today.

The chart below illustrates.

In terms of correlations over the past week for GBPCAD, it has demonstrated the strongest correlation with GBPAUD. Over the past 14 days, however, GBPNZD is the asset most correlated to GBPCAD. On the flip side, the asset least correlated with GBPCAD over the past week has been AUDCAD, but if we observe the prior two weeks, the asset least correlated with GBPCAD has been AUDNZD. See the chart below to observe the recent price action in GBPCAD versus those of assets it hasn’t been well correlated with.

The View From the Weekly Timeframe

At the moment, GBPCAD’s rate is up 83 pips (0.48%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPCAD has now gone up 4 of the past 5 weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.