GBPCAD

(Last Updated September 18, 2020)

Hello! This is the news page for GBPCAD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

As for trends on GBPCAD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

GBPCAD Moving Averages

Across several time periods between 20 and 200 days, the trend on GBPCAD has remained consistently bearish. Moreover, it should also be noted that the 50 SMA just turned bearish today.

Below is a chart showing GBPCAD’s price with its moving averages.

In terms of correlations over the past week for GBPCAD, it has demonstrated the strongest correlation with GBPUSD. GBPUSD is the asset with which GBPCAD has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, NZDJPY has been the asset least correlated with GBPCAD — but over the past two weeks, USDHKD has been the asset least correlated with GBPCAD. 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 time of this writing, GBPCAD’s rate is up 0.0223 (1.32%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. 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 bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows GBPCAD’s price action over the past year.