(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:
| 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 |
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’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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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.
Strongest trend on the 24 month timeframe.
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.
We got a full take profit of 600+ pips now the price is on a range for a long time we are on a middle of a bigger range to.
The closest is the 50 day average, which is 15.4 pips away.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpcad.
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 50 day average, which is 0.2 pips away.
The closest is the 20 day average, which is 6.2 pips away.
The closest is the 20 day average, which is 6.2 pips away.
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 20 day average, which is 16.2 pips away.