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GBPCAD

(Last Updated April 15, 2021)

Hello! This is the news page for 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
United Kingdom BoE Credit Conditions Survey NA British Pound GBP 2021-04-15 08:30 GMT
Canada Manufacturing Sales MoM Feb 2021 Canadian Dollar CAD 2021-04-15 12:30 GMT -1% -1.6%
United Kingdom BoE Cunliffe Speech NA British Pound GBP 2021-04-16 09:00 GMT
Canada Housing Starts Mar 2021 Canadian Dollar CAD 2021-04-16 12:15 GMT 250K

The Trend

As for trends on GBPCAD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

GBPCAD Moving Averages

GBPCAD’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, suggesting the trend is generally downward, save for a jump that occurred about 6 months ago.

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

Regarding GBPCAD’s correlations over the past 7 days, it has been most correlated with GBPCHF. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPCAD is EURSEK. Alternatively, the asset least correlated with GBPCAD over the past week has been NZDUSD, but if we observe the prior two weeks, the asset least correlated with GBPCAD has been AUDCAD. The chart below illustrates GBPCAD against its least correlated assets.

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The View From the Weekly Timeframe

Currently, GBPCAD’s rate is up 79 pips (0.46%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 week timeframe. 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. The weekly chart below shows GBPCAD’s price action over the past year.

GBPCAD: The Monthly View

Strongest trend on the 24 month timeframe.

GBPCAD Down 10 Pips in Last Hour; Moves Up For the 5th Day In A Row

Categories Forex News Tags GBPCAD
April 21, 2021April 21, 2021

This move is a reversal from the hour prior, which saw price move up.

GBPCAD Up 1 Pips Over Past Hour; Moves Up For the 5th Day In A Row

Categories Forex News Tags GBPCAD
April 21, 2021April 20, 2021

This move is a reversal from the hour prior, which saw price move down.

GBPCAD Down 16 Pips Over Past Hour, Tops All Forex; Makes Big Move Relative to Past Month

Categories Forex News Tags GBPCAD
April 20, 2021April 19, 2021

It’s been a feast for bears operating on an hourly timeframe, as gbpcad has now gone down 4 of the past 5 hours.

GBPCAD Down 8 Pips On Hourly Chart, Entered Today Up For the 3rd Consecutive Day; Breaks Above 200 Day Average

Categories Forex News Tags GBPCAD
April 19, 2021April 16, 2021

Price action traders may also wish to note that we see a doji candlestick pattern on gbpcad.

GBPCAD Up 6 Pips in Last Hour, Moves Up For the 2nd Straight Day; Nears 20 and 200 Day Moving Averages

Categories Forex News Tags GBPCAD
April 16, 2021April 15, 2021

Price action traders may also wish to note that we see a doji candlestick pattern on gbpcad.

GBPCAD Down 4 Pips in Last Hour, Eyes 20 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

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

The closest is the 200 day average, which is 51.2 pips away.

GBPCAD Up 2 Pips Over Past Hour, in a Downtrend Over Past 30 Days; Nears 20 and 200 Day Moving Averages

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

Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.

GBPCAD Down 0 Pips Over Past Hour, Outperforms All Forex; Eyes 20 and 200 Day Averages

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

For additional context, note that price has gone up 7 out of the past 14 days.

GBPCAD Up 3 Pips On Hourly Chart, Entered Today Down For the 4th Day In A Row; Price Base in Formation Over Past 14 Days

Categories Forex News Tags GBPCAD
April 12, 2021April 9, 2021

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

GBPCAD Up 5 Pips On Hourly Chart, Moves Down For the 3rd Consecutive Day; Breaks Below 200 Day Average

Categories Forex News Tags GBPCAD
April 9, 2021April 8, 2021

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

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