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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 outcome
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.

GBPCAD: The Monthly View

Monthly outlook: choppy. Clear trends not visible on the 24, 60 and 120 month timeframes.

GBPCAD Down 1 Pips On Hourly Chart, Crosses 20 and 50 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags GBPCAD
January 22, 2021January 22, 2021

This imputes a buy/sell ratio of 1, which is neutral.

GBP/CAD Down 13 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 20 and 50 Day Averages

Categories Forex News Tags GBPCAD
January 21, 2021

Or to simplify this another way, note that out of the past 30 days gbpcad’s price has gone up 16 them.

GBPCAD Up 4 Pips On Hourly Chart, Crosses 20 and 50 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags GBPCAD
January 22, 2021January 19, 2021

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.

GBPCAD Down 4 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; Crosses 20 Day Moving Average

Categories Forex News Tags GBPCAD
January 19, 2021January 18, 2021

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.

GBPCAD Up 29 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; Crosses 20 Day Moving Average

Categories Forex News Tags GBPCAD
January 18, 2021January 15, 2021

Volatility for gbpcad has been contracting over the past two weeks relative to volatility over the past month.

GBPCAD Down 2 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Crosses 20 Day Moving Average

Categories Forex News Tags GBPCAD
January 15, 2021January 14, 2021

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.

GBPCAD Down 7 Pips Over Past Hour, 3 Day Up Streak Ended; Eyes 20 and 50 Day Averages

Categories Forex News Tags GBPCAD
January 14, 2021January 13, 2021

This is a reversal of the price action on the previous hour, in which price moved up.

GBPCAD Up 10 Pips in Last Hour; Came Into Today Up For the 3rd Day In A Row

Categories Forex News Tags GBPCAD
January 13, 2021January 12, 2021

Of note is that the 200 hour changed directions on gbpcad; it is now pointing up.

GBPCAD Down 3 Pips Over Past Hour, Entered Today Up For the 2nd Consecutive Day; Breaks Above 20 and 50 Day Averages

Categories Forex News Tags GBPCAD
January 12, 2021January 8, 2021

Volatility for gbpcad has been contracting over the past two weeks relative to volatility over the past month.

GBPCAD Down 12 Pips Over Past Hour, Entered Today Down For the 4th Straight Day; Price Base in Formation Over Past 14 Days

Categories Forex News Tags GBPCAD
January 8, 2021January 7, 2021

The closest is the 100 day average, which is 6.7 pips away.

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